Guangdong Development Fund Share Discussion Threads

[la forge] 12/3/2016 10:24

Siemens boss sees bright future for oil and gas
Posted on 12 Mar 2016
inShare
Siemens boss sees bright future for oil and gasAt a US conference at the end of last month, Siemens (www.siemens.co.uk) CEO Joe Kaeser said that the long-term fundamentals for the oil and gas industry are “positive̶1; and he is “very optimistic about this business.”

He said that depressed oil prices mean companies are in “a competitive landscape” where they need to discover new ways to become more efficient. New technologies such as computer simulations could help oil companies “map out processes and use their wealth of data to optimise their investments”.

Mr Kaeser said he believes that Siemens’ future lies in “a world increasingly drawing on power from renewable sources”, adding that the private sector “has a responsibility to engage actively in global efforts to reduce greenhouse-gas emissions and to help the world move toa low-carbon, climate-resilient economy.”

Mr Kaeser said that Siemens has recently invested in the oil and gas industry. Towards the end of last year, the German group acquired Texas-based Dresser-Rand — a manufacturer of industrial equipment for the oil, gas and process industries — for $7.8 billion.

“The current price of oil increases the focus of our customers on ways to reduce costs. Despite the challenges presented by a low oil price, it also brings opportunities as we focus our efforts on offers that reduce costs and increase efficiency.”

Mr Kaeser concluded his speech by saying that “people want to make a difference in life, so making them proud to work for a company is the best way to attract top talent. For employees trying to understand their role in our huge organisation, the key is to have them treat it as if they owned it. No matter what you do, no matter who you are, act as if it was your own company and you’ll be fine.”

[waldron] 08/2/2016 11:58

By News reports

08 February 2016 10:37 GMT
French player Engie is planning to sell up to €20 billion ($22.3 billion) worth of assets over the next three years, as the gas and power group is also aiming to speed up its cost-cutting plans, according to a report.

[grupo guitarlumber] 16/1/2016 10:06

25
Feb
2016

FY 2015 results publication

At 8:00.
29
Apr
2016

Publication of 1st quarter 2016 financial information
03
May
2016

Shareholders’ meeting

[ariane] 10/10/2015 13:49

ENGIE and Mitsubishi Heavy Industries signed a MOU to develop their collaboration in energy sector and technology


TOKYO, Oct, 09 2015 - (JCN Newswire) - Gerard Mestrallet, Chairman and CEO of ENGIE and Shunichi Miyanaga, President and CEO of Mitsubishi Heavy Industries, Ltd. (MHI) signed a Memorandum of Understanding (MoU) to develop their collaboration all along the energy value chain and technology. Following the meeting between the French and Japanese Prime Ministers, on October 5, 2015 in Tokyo ENGIE and MHI entered into a non-exclusive cooperation agreement that builds on the foundation of their long-term worldwide track record of successful purchaser-supplier as well as partner relationships. This agreement was signed within the context of profound changes in the energy sector landscape in order to be able to offer globally a broad range of the most innovative solutions adapted to specific local conditions.

The agreement covers a wide range of technologies and solutions: conventional and nuclear power plants, renewable energy technologies, distributed generation as well as the emerging technologies and innovative services allowing to increase energy efficiency, optimise the use of resources and reduce CO2 emissions. The ENGIE - MHI cooperation agreement will, among other things, cover the development of technologies and services aiming at increasing process efficiency and reducing emissions of electrical systems globally, including optimising conventional power plants and their auxiliary and integrated facilities, developments of highly efficient gas turbines, developments of innovative solutions for combined generation of electricity, heat and hydrogen, fuel cells, monitoring systems etc. together with the advancement of nuclear related business delivering reliable carbon-free base-load electricity to the market.

Shunichi Miyanaga said: "The ongoing systemic change of the energy sector and the need to drastically reduce greenhouse gases emissions call for shorter innovation cycles and a holistic view of the energy value chain: I'm convinced that closer cooperation between technology suppliers and utilities - as reflected in this MoU - will contribute to shorter times to market and a better response to the customer needs while using the energy resources with maximum efficiency."

Gerard Mestrallet said: "The concluded cooperation agreement reflects our mutual commitment to provide the most up-to-date solutions for the energy sector across the globe, and will serve as a stepping stone to pave the way to explore new opportunities for cooperation leveraging our technical expertise and past experience of working together."

ENGIE and MHI already cooperate successfully in the various fields of power plants and technologies. They have accumulated successful installation and operation records through several projects all over the world.


About Mitsubishi Heavy Industries
Mitsubishi Heavy Industries, Ltd. (TSE: 7011, 'MHI'), headquartered in Tokyo, Japan, is one of the world's leading heavy machinery manufacturers. MHI's diverse lineup of products and services encompasses shipbuilding, power plants, chemical plants, environmental equipment, steel structures, industrial and general machinery, aircraft, space rocketry and air-conditioning systems. For more information, please visit the MHI website at www.mhi.co.jp.

[4spiel] 07/10/2015 15:31

Ex DIv Oct 13th

[waldron] 04/10/2015 19:26

Now may not be the best time to unveil plans to export liquefied natural gas from the U.S. But don't tell Charles "Buddy" Roemer.

The former governor of Louisiana will formally announce Monday one of the largest LNG-export proposals in the U.S., at a time when faltering demand for gas in Asia, as well as low prices, threaten the viability of ventures much further along the way than his.

"There may be 40 ahead of us in the world already producing, but there are 30 behind us, and something is happening," said Roemer, chairman of a Baton Rouge-based G2 LNG. "This will be a powerful industry."

The company is assembling a project worth nearly $11 billion, which would make it one of the biggest energy undertakings ever in Louisiana. Over 30 years, G2 LNG would export 672 billion cubic feet of LNG annually to China, Europe, the Caribbean and India.

G2 LNG has already made progress on the regulatory front, having obtained approval from the Department of Energy earlier this year to export gas to countries with free-trade agreements with the U.S. Now, it's awaiting word from DOE on an application to sell to other countries, including China and India, and intends to file soon with the Federal Energy Regulatory Commission for permission to build the necessary facilities.

This comes as leading energy authorities like the International Energy Agency caution that Asia and other markets will be unable to absorb most of the LNG capacity of plants proposed or under construction in the U.S. and elsewhere for the next five years or so. The industry leader in the U.S., Cheniere Energy, plans its first shipments in December from a facility in Louisiana.

But Roemer, a banker as well as Louisiana's governor from 1988 to 1991 and a congressman from 1981 to 1988, says some energy analysts overlook the long-term potential for LNG demand in the world, especially in light of global concerns over climate change and recognition that gas is a cleaner-burning fuel than coal and oil.

"Natural gas will be the product of the future," he said in an interview. "It will take the place of coal. It will take the place of oil. It will be a threat to the old empire."

Moreover, according to Roemer, U.S. LNG will become increasingly appealing in comparison to gas from other, less stable regions of the world, like Russia and the Middle East.

"The thing that's attractive about America is its consistency," he said. "It's the fact that you make a deal and we honor it. It's not (Russian President Vladimir) Putin. It's not the Middle East. It's America, and I think this energy business will be important to America. That's the reason we started this venture. I know there's competition. I like that. But the chance to deliver a promise made in America around the world is powerful to me."

Patriotism aside, Roemer maintained that G2 LNG enjoys competitive advantages compared to some other U.S. export projects. Among them, FERC has already issued a favorable environmental review of the site on the Calcasieu Ship Channel in Cameron County when it was under consideration for an LNG-import operation several years ago. He said should bode well for his project.

Perhaps even more important, G2 LNG owns gas resources in east Texas that it would draw on for exports, giving it flexibility in negotiating contracts with foreign customers, and the firm is looking for more gas acquisitions in Texas and Louisiana.

"We can place a price on it differently than anybody else," he said.

In short, Roemer maintains that G2 LNG will be well positioned by 2020, when it expects to complete construction of the facilities and begin shipping gas. While he acknowledged that forecasting gas prices is difficult, he said he is sure the market will have absorbed the current surge in LNG exports and will be looking for much more.

"Some people can't see past their feet," he said of the caution flags being raised over the number of pending LNG export projects. "Other people know they're standing on a mountain. I've always taken the long view."

Bill Loveless — @bill_loveless on Twitter — is a veteran energy journalist and television commentator in Washington. He is a former host of the TV program Platts Energy Week.

[maywillow] 05/9/2015 10:37

Cheaper gas in time for winter
September 05, 2015

GAS prices in France are to fall by 1.3% on October 1 - meaning cheaper energy bills for seven million homes that benefit from government-regulated tariffs.

The reduced rate applies to customers of Engie, the new name for GDF-Suez, who are on the provider's tarif réglementé.

It follows another 1.3% decline in July and a slight rise (0.5%) on September 1.

Prices for gas are adjusted by France's energy regulation committee on a monthly basis, based on the real cost of production, distribution and storage. Until recently, the rates were only revised quarterly.
- See more at:

[waldron] 31/8/2015 21:41

Next div ex-date Oct 13 2015
Next div pay-date Oct 15 2015

I WONDER WHICH PAYMENT DATE IS CORRECT

OCT 15 OR NOV 5

[grupo guitarlumber] 30/8/2015 19:17

15
Oct
2015

Interim dividend payment
05
Nov
2015

Publication of results as of September 30, 2015
20
Nov
2015

Shareholding Show

November 20 and 21 2015

[sarkasm] 29/8/2015 07:02

Dividende 2015

Le Conseil d’administration a décidé le principe d’un acompte sur dividende de 0,50 euro par action au titre de l’exercice 2015, qui serait versé le 15 octobre 2015.

[maywillow] 26/7/2015 13:30

Shareholders’ meeting
30
Jul
2015

First half 2015 results

[waldron] 25/5/2015 11:45

PARIS—French state-controlled power utility Eléctricité de France SA, or EDF, made a preliminary offer for the reactor unit of nuclear-engineering firm Areva SA of €2 billion ($2.2 billion) as part of the latest attempt by the government to restructure the country's nuclear industry.

EDF Chief Executive Jean-Bernard Levy said earlier this past week that an offer would be forthcoming. The company made its nonbinding bid to buy the nuclear-reactor unit of Areva on Friday, a person close to the matter said. The amount will be negotiated and increase, the person said.

The French utility has stepped in to take over some of Areva's assets following requests from Economy Minister Emmanuel Macron. Officials at both Areva and EDF have said the government will have the ultimate say. More than 80% of the two companies' shares are held by the government. French President François Hollande will meet June 3 with Mr. Macron and other top officials to discuss the issue.

The minister advocated a tie-up between the two companies after Areva sank deeper into losses last year, dogged by a tough market for nuclear reactors since the Fukushima disaster in Japan, poor investment decisions over the past decade and cost overruns on two projects in France and Finland. The initiative from the government is the latest in a long effort to reorganize France's nuclear sector, which has lost ground to competitors from Russia, South Korea and the U.S.

Areva has booked four consecutive annual net losses, culminating with a €4.8 billion loss last year.

The person close to the matter said EDF wants to avoid liabilities with two Areva projects in Finland and in France, which ran into cost overruns so wide they threatened the company's survival. The French utility operates the world's largest fleet of nuclear reactors and is one of Areva's largest customers.

The preliminary offer is lower than what some analysts had expected.

Analyst Pierre Boucheny at brokerage Kepler Cheuvreux estimates earnings before interest, taxes, depreciation and amortization on Areva's reactor construction and servicing business amounted to a loss of about €1 billion over the past five years. The nuclear-fuel manufacturing business has been slightly profitable over the period, he said.

Mr. Boucheny estimates the reactor unit might be worth between €3.5 billion and €4 billion given the unit's outlook and the fact EDF wouldn't take on liabilities related to the nuclear reactor being built in Finland.

The other large French power utility, Engie, formerly known as GDF Suez, is also interested in some of Areva's assets. Its chief executive, Gerard Mestrallet, said his company might be interested in taking a stake in Areva's nuclear-reactor servicing unit.

Write to Inti Landauro at [e-mail]

[la forge] 14/5/2015 05:04

By Inti Landauro

PARIS--French power utility Engie (GSZ.FR), formerly known as GDF Suez, Wednesday cut its profit target for the year after it was forced to postpone the reopening of two Belgian nuclear reactors which have been shut since March 2014.

Engie lowered its target for net recurring income--a measure of net income that strips out restructuring costs and other impairments--by 150 million euros ($168 million) to a range of between EUR2.85 billion and EUR3.15 billion.

The company said earlier Wednesday that it would have to postpone the reopening of its two Belgium reactors, Doel 3 and Tihange 2, until Nov. 1. The reactors were shut down by the Belgian authorities in March last year after tests on their pressure vessels showed "unexpected results" regarding their resistance.

The two reactors were shut down in 2012 after micro-cracks were found on their pressure vessels, which enclose the reactors' cores. Engie operates a total of seven reactors in Belgium.

Engie said the Belgian regulator will collect more opinions before authorizing Electrabel, the company's Belgian unit, to restart the reactors. The process will take another few months, Engie said, citing estimations from the regulator.

The halting of the two reactors had a negative impact on Engie's bottom line last year.

Write to Inti Landauro at [e-mail]

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[waldron] 27/4/2015 19:13

PARIS--GDF Suez SA (GSZ.FR), which was renamed Engie last week, confirmed Monday its financial targets for 2015 despite a sharp drop in the French power utility's profitability in the first quarter.

The company said it still expected a net profit of 3 billion euros ($3.28 billion) to EUR3.3 billion in 2015, even as earnings before interest, taxes, depreciation and amortization, or Ebitda, fell 10% to EUR3.6 billion euros in the three months ended March.

Analysts polled by FactSet expected EUR3.71 billion.

Sales over the period fell 3% to EUR22.1 billion. Analysts expected sales of about EUR21.85 billion in the first quarter.

Like most of its peers in Europe, the group has suffered from sluggish demand for energy in slow-growth Western Europe. At the same time, subsidies for renewable energy have made traditional power plants less profitable.

Two months ago, the company had warned it may suffer this year from lower oil and gas prices, but that it would maintain its profit by cutting costs and delaying investment.

Write to Noemie Bisserbe at [e-mail]

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[sarkasm] 25/4/2015 20:48

27
Apr
2015

Publication of 1st quarter 2015 financial information
28
Apr
2015

Combined Ordinary and Extraordinary Shareholders’…
28
Apr
2015

Shareholders’ meeting

[waldron] 24/4/2015 18:03

PARIS--Goodbye GDF Suez SA. Hello Engie.

French power utility GDF Suez said on Friday it was changing its name to "Engie," in a bid to reflect a changing energy industry and prepare for the departure of the company's longtime chief executive Gérard Mestrallet.

Mr. Mestrallet's scheduled exit comes after 20 years at the helm of a company he has transformed through a series of large mergers and acquisitions. He said he and his anointed successor Isabelle Kocher, who is currently GDF Suez's deputy CEO, decided to change the name.

"I personify the construction of the group and its history, Isabelle personifies its future," Mr. Mestrallet, 66, told a news conference as he unveiled the new name and a new logo.

He said the new name is shorter--two syllables instead of five--and is easier to associate with the group's business: energy. The management decided to spell the name Engie--pronounced like the Rolling Stones song Angie--because it's reminiscent of the French word "énergie" to keep faithful to its roots.

Ms. Kocher, 49, said the new name looks and sounds like a woman's first name. Mr. Mestrallet said a female name is "a coincidence that doesn't displease" him as the company will soon be run by two women, Ms. Kocher and CFO Judith Hartmann.

Ms. Kocher's anticipated elevation to the top job would make her the only woman to run one of the 40 top French companies included in the blue chip index CAC 40.

Since he took over as CEO of Suez 20 years ago, Mr. Mestrallet has turned the 150-year-old company into a behemoth, with almost 150,000 employees in 70 countries. He successively merged it with water and waste utility Lyonnaise des Eaux--which was later spun off as Suez Environnement--Belgium's Société; Générale de Belgique, French state-owned utility Gaz de France and more recently U.K. utility International Power.

Most recently, under his guidance, the company has sought to expand mainly in Latin America and other emerging markets, as energy demand in Western Europe stagnated over the past few years. At the same time, European subsidies for renewable energy has made many conventional power plants unprofitable.

Mr. Mestrallet said the idea is to gradually place the company's different units under the "Engie" brand.

The renaming of the company will cost GDF Suez several million euros, Mr. Mestrallet said, but that isn't much for a company that reported sales worth close to EUR75 billion ($81.2 billion) last year, he added.

The new name will be set up gradually and approved definitely at the general shareholders' meeting in mid-2016 when he is due to leave the company after reaching retirement age.

GDF Suez is the latest large French company to move to change its name in recent years, often to boost an international profile or to better reflect identity after asset disposals. Luxury and retail group PPR was renamed Kering SA in 2013 and France Télécom rebranded itself Orange SA that same year, while EADS was renamed Airbus Group NV last year.

Write to Inti Landauro at [e-mail]

Access Investor Kit for GDF SUEZ SA

Visit hxxp://www.companyspotlight.com/partner?cp_code=P479&isin=FR0010208488

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[grupo guitarlumber] 18/4/2015 16:47

Dividend 2014

The Group will pay a dividend of 1 euro in cash for 2014*. An interim dividend of 0.50€ per share was payed October 15th, 2014, the dividend balance of 0.50€ per share will be paid May 5th, 2015 (ex-dividend date of April 30th, 2015).
*Subject to the approval of the Yearly General Assembly scheduled for April 28th, 2015

[waldron] 05/3/2015 06:17

EUBUSINESS

GDF Suez in 2.5-bn-euro bond issue, including rare zero-coupon bond
05 March 2015, 01:12 CET
— filed under: France, energy, business, bonds, GDFSuez

(PARIS) - French energy giant GDF Suez said it sold four tranches of debt Wednesday for a total value of 2.5 billion euros ($2.7 billion), including a rare zero-coupon bond.

"The coupons for each tranche are the lowest obtained by GDF Suez at these maturities in euros. In particular, the two-year tranche bears a zero-percent coupon," the group said in a statement.

The Wall Street Journal called the launch of the zero-coupon two-year bond "a true rarity" and said GDF Suez was the first company in over 14 years to issue bonds in euros offering no regular payments to investors.

The move comes as bond yields have slipped into negative territory ahead of a massive quantitative easing programme announced by the European Central Bank.

The ECB is on Thursday expected to unveil details of the initiative, which will see the central bank buy 60 billion euros of bonds public and private bonds each month for 18 months.

The GDF Suez sale offered a 500-million-euro 20-year bond that will pay interest of 1.5 percent and a 750-million-euro bond maturing in March 2026 with a coupon of 1.0 percent.

A 750-million-euro bond maturing in March 2022 with a coupon fixed at 0.5 percent and a 500-million-euro two-year bond with a zero-percent coupon were also offered.

"The average coupon of the issue is 0.75 percent and the average maturity is 9.8 years," the statement said.

"This transaction shows the investors' trust in GDF Suez signature," the group's CEO Gerard Mestrallet added.

"It is aligned with the strategy of dynamic management of the GDF Suez balance sheet and allows the group to secure its refinancing needs in exceptionally favourable market conditions currently prevailing in the eurozone."

Unlike regular bonds, zero-coupon bonds do not see any interest payments made to the bondholder.

Instead, the bondholder receives the face value of the bond at maturity, gaining on the difference between what they originally paid for the bond and the amount received at maturity.

sbo/boc/cj/mfp/pdh

GDF SUEZ