Brussels, 28/04/2006 (Agence Europe) - At the invitation of the President of the Belgian Senate, Anne-Marie Lizin, the President of the Franco-Belgian group, Suez, Gérard Mestrallet, had a meeting with Belgian senators interested in the effects of the merger with Gaz de France. Outlining the contours of the group he heads, Mr Mestrallet provided assurances that the merger with Gaz de France had not been “dreamt up in 48 hours by French Prime Minister Dominique de Villepin”. He stressed that this European merger, supported by both groups would create one of the most international European energy groups. GDF obtains 40% turnover from international affairs and Suez gets 75% of its turnover from the same area. Mr Mestrallet also emphasised the advantages of such a merger in an energy market that is really coming up to boiling point and for it to be able to meet the needs for securing supply.
Jean-Pierre Hansen, number two at Suez said that in a few years time, “Europe will lack electricity power”. He explained that the current price levels would remain very volatile and investors remain unconvinced about long term risk (15-20 years for energy sector projects). He also judged that current prices do not usually cover renewal costs of energy sources. According to Mr Hansen, the group, which owns the Zeebrugge terminal would be concentrating on Liquefied Natural Gas (LNG) for its gas business, which had “really developed over recent years”. Transported by boats between the continents, LNG would generate significant but limited energy. Mr Hansen insisted that faced with important actors in the sector, Russia and soon, Nigeria and Qatar, they also needed “big European actors”.