Doris Leblond
OGJ Correspondent
PARIS, Oct. 15 -- Anticipating the close of their announced merger to take place in 2008's first half, Gaz de France and Suez have outlined their global development strategy for 2008-10 in France, Belgium, and elsewhere backed by a €10 billion/year capital spending program (OGJ Online, Sept. 7, 2007).
The newly formed GDF Suez plans to spend €1-1.5 billion on exploration and development. The merged firms plan to expand their combined proved and probable reserves to 1.5 billion boe from 685 million boe at yearend 2006.
GDF Suez also will boost its LNG business through integrated LNG projects, it said, aiming to increase contracted LNG supply volumes by 30%.
A further €1.5-2 billion will be used to develop infrastructures to back up growth in Europe's energy market. Regasification capacities in France and Belgium will be increased to 44 billion cu m/year by 2013, up from 24 billion cu m/year at yearend 2006. This increase will be achieved mainly with the Fos Cavaou terminal, due to come on stream in 2008, as well as the expanded capacities of Zeebrugge and Montoir-de-Bretagne terminals.
