GDF Suez Invests in the UK and Algeria

GDF Suez announces investments in the UK and in Algeria, according to the website of the company.

After delivering its first cargo of Liquefied Natural Gas to Dubai on Wednesday, the France-based utility announced on Friday the acquisition of Balfour Beatty Workplace, a provider of energy and technical services in the UK.

On Thursday, GDF Suez and its Algerian partner Sonatrach signed a contract with the Spanish company Técnicas Reunidas to develop the Touat natural gas field. The contract covers the first phase development plan. The companies will work together to construct an industrial natural gas treatment complex and collection system in Touat, southwest Algeria.

“The close collaboration between Sonatrach and GDF Suez teams made it possible to complete this major step forward for the Touat project and constitutes the best guarantee of success for this large-scale project,” said Jean-Marie Dauger, Executive Vice-President of GDF Suez in charge of the Global Gas and LNG business line. 

Sonatrach is an Algerian government-owned company operating in exploration, production, pipeline transportation and marketing of hydrocrabons and by products. According to its website, it is the largest oil and gas company in Algeria and Africa.

Production launch for the Touat field is planned for late 2016, reads the note released on Thursday, explaining that the project will produce annually 4.5 billion standard cu.m of gas and 630,000 barrels of condensate.