(MENAFN - The Peninsula) GEK Terna Group and Qatar Petroleum International (QPI) held a ceremony in Athens 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 percent of GEK Terna's share in Heron II. On completion, QPI will join GEK Terna and GDF Suez 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 GEK Terna 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.
Nasser Al Jaidah, CEO of QPI, said: "The acquisition of the 25 percent share in Heron II will form the basis of a long and fruitful strategic partnership between QPI and GEK Terna. QPI is always seeking to forge new alliances with global partners and in GEK Terna 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 Group, George Peristeris, CEO of GEK Terna 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 Asimakis Papageorgiou, Deputy Minister of Environment, Energy & Climate Change, the Qatari Ambassador in Athens Soltan Saad Al Moraikhi, Abdulaziz Al Kuwari, Chief Financial Officer of QPI, Yousef Fakhroo, Global Communications Manager, Dr Theodore Theodoropoulos, CEO of QEnergy Europe, a subsidiary of GEK Terna Group, Marc Josz, Executive Vice-President of the GDF SUEZ Energy Europe branch, and Heron 2 Board Members Marzooq Tariq Al Shamlan and Mohammed Jaber Al Sulaiti