QPI, GEK TERNA, QENERGY EUROPE and GDF Suez, with the Minister of Energy and the Qatari Ambassador in Greece
Athens, Greece – GEK TERNA Group and Qatar Petroleum International (QPI) held a ceremony in Athens, Greece today to signal their strategic partnership in the energy sector.
At its first stage, the partnership concerns the successful completion of the acquisition by QPI of 25% of GEK TERNA’s share in Heron II. On completion, QPI will join the GEK Terna and GDF groups in owning and operating Greece’s most efficient power plant.
The acquisition marks the first time that a Qatari State Company has invested in a greek energy asset and solidifies an alliance between QPI and the GEK TERNA Group that holds much potential for global diversification through projects and investments in the energy industry, principally in the LNG value chain and infrastructure, based not only in Greece, but across Europe as well.
Mr. Abdulaziz Al-Kuwari, Chief Financial Officer of QPI, signalled that the acquisition will form the basis of a long and fruitful strategic partnership between QPI and the GEK TERNA Group:
“QPI is always seeking to forge new alliances with global partners and in GEK TERNA Group we found a synergistic match that will propel QPI’s mission to drive Qatar’s global diversification, expansion, and investment in the energy sector. This is just the first step of a strategic alliance that further bolsters Qatar’s standing as a global energy supplier.”
Speaking on behalf of GEK TERNA, Mr. George Peristeris, CEO of GEK TERNA Group said, “We are very pleased with the collaboration between QPI and our Group. This is a milestone, not only for our company but also for Greece, as it is the first time that a Qatari State Company, and one of the top global players, invests in a Greek energy asset. I hope that it will be the first stage of establishing a sustainable and fruitful partnership.”
The event was attended by the Greek Minister of Energy, HE Asimakis Papageorgiou, the Qatari Ambassador in Athens, HE Soltan Saad Al-Moraikhi, Mr. Abdulaziz Al-Kuwari, Chief Financial Officer of QPI, Dr. Theodore Thedoropoulos, CEO of QENERGY Europe, a subsidiary of GEK TERNA Group, Mr. Yousef Fakhroo, Global Communications Manager of QPI and the Vice President of GDF Suez Europe.