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GDF Suez S.A. ADR (GDFZY)

- OTCPK - Current
  • Fri, Apr. 24, 3:58 PM
    • French electricity and gas company GDF Suez (OTCPK:GDFZY, OTCPK:GDSZF) says it is changing its name to Engie as a reflection of the rapid changes in the energy industry toward renewables.
    • Outgoing CEO Gerard Mestrallet and incoming chief Isabelle Kocher say the new name is easier to associate with the group’s business - energy - and that it is reminiscent of the French word "énergie” to keep faithful to its roots.
    • The company ranks as the world's no. 3 importer of liquefied natural gas and the top independent electricity producer, and it is investing heavily in renewables, which already account for 22% of its power capacity.
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  • Wed, Mar. 4, 12:19 PM
    • GDF Suez (OTCPK:GDFZY) has become the first company in more than 14 years to issue bonds in euros bearing no regular payments for investors, WSJ reports.
    • The French utility sold four tranches of debt, with maturities ranging between two and 20 years, for a total value of €2.5B ($2.77B); for the €500M two-year tranche, the coupon will be 0%, another sign of the hard bargain borrowers can demand while investors’ appetite for bonds is so strong.
    • The 20-year debt sold by GDF Suez offers a coupon of just 1.5%, also a fresh record low for a corporate bond in euros of that maturity.
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  • Wed, Feb. 25, 7:56 AM
    • Sempra Energy’s (NYSE:SRE) Cameron LNG says it has filed for approval with the FERC to expand its three-train liquefaction export project in Hackberry, La., to five trains.
    • The expansion, which also includes an additional liquefied natural gas storage tank, would increasing production capacity by 9.97M metric tons/year to 24.92M.
    • FERC permits pave the away for the Department of Energy to consider if the project can ship LNG to countries with which the U.S. does not have a free trade agreement.
    • France’s GDF Suez (OTCPK:GDFZY) and Japan’s Mitsui (OTCPK:MITSY) are SRE's partners in the venture.
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  • Wed, Jan. 14, 11:43 AM
    • Statoil (STO -0.5%) says it has handed back three of its four Greenland offshore oil and gas exploration licenses, as the play is considered too risky and too costly amid falling oil prices.
    • STO is keeping one license off Greenland's east coast where the deadline for drilling is longer.
    • GDF Suez (OTCPK:GDFZY) also says it has handed back both its Greenland licenses as it did not see any prospects of actually drilling any wells, and Maersk Oil (OTCPK:AMKAF) last week postponed a decision on whether to drill for oil off the island.
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  • Nov. 13, 2014, 9:56 AM
    • GDF Suez (OTCPK:GDFZY, OTCPK:GDSZF) says revenue fell 7.5% Y/Y to €54.5B ($67.8B) during the first nine months of the year, while EBITDA dropped 15.4% to €8.9B, blaming warm weather in western Europe that caused reduced demand for natural gas and forced the closure of two nuclear reactors it operates in Belgium.
    • The reactors are still shut down, though GDF says it expects the local regulator to authorize their reopening by the end of the winter based on recent tests results.
    • GDF also lowers its 2014 financial target of net recurring income to €3.1B-€3.5B from a previous outlook for €3.3B-€3.7B.
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  • Oct. 23, 2014, 8:57 AM
    • BP and GDF Suez (OTCPK:GDFZY) say they have made a significant discovery in the U.K. zone of the central North Sea, without providing specific estimates.
    • An exploration well drilled by GDF flowed as much as 5,350 boe/day in test runs.
    • The new-found oil patch crosses into a block operated by BP and half owned by Total (NYSE:TOT), and the other block is operated and 50% owned by GDF.
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  • Sep. 9, 2014, 7:57 AM
    • France's antitrust watchdog says it has opened an investigation into GDF Suez (OTCPK:GDFZY, OTCPK:GDSZF) after finding evidence the French utility may have abused its dominant position in the country's gas market.
    • The antitrust authority is ordering GDF Suez to give competitors access to part of its client database in a bid to boost competition.
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  • Aug. 7, 2014, 2:02 AM
    • Japanese partners in the Cameron LNG terminal say the project has secured its last investment approval by obtaining $7.4B in financing.
    • The move brings Japan a step closer to importing significant amounts of LNG from the U.S.'s abundant supply of shale gas.
    • The Cameron project is owned by Sempra Energy (NYSE:SRE), GDF Suez (OTCPK:GDFZY), Mitsui & Co. (OTCPK:MITSY), and a joint venture between Mitsubishi Corp. (OTCPK:MSBHY) and Nippon Yusen KK (OTCPK:NPNYY).
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  • Jul. 24, 2014, 12:43 PM
    • Japan’s three biggest lenders are among ~30 banks set to sign a $7.5B loan early next month for the Louisiana-based Cameron liquefied natural gas project, Bloomberg reports.
    • The $10B Cameron project is expected to produce 12M tons/year of LNG starting in 2018, and could provide Japan with an alternative fuel source after the nuclear industry shutdown following the 2011 Fukushima disaster forced it to boost energy imports.
    • The project is owned by Sempra Energy (NYSE:SRE), GDF Suez (OTCPK:GDFZY, OTCPK:GDSZF), Mitsui (OTCPK:MITSY) and others.
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  • Jul. 24, 2014, 6:42 AM
    • Thirty banks are ready to sign a $7.5B loan next month for the U.S. Cameron LNG project that could offer Japan an alternative fuel source.
    • Japan has been running record trade deficits after the nuclear industry shutdown forced it to boost energy imports following the 2011 Fukushima disaster.
    • The $10B Cameron project is owned by Sempra Energy (NYSE:SRE), GDF Suez (OTCPK:GDFZY), Mitsui & Co. (OTCPK:MITSY), and a joint venture between Mitsubishi Corp. (OTCPK:MSBHY) and Nippon Yusen KK (OTCPK:NPNYY).
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  • Jul. 17, 2014, 12:15 PM
    • Royal Dutch Shell (RDS.A, RDS.B) reportedly plans to pull out of a natural gas project in Qatar following disappointing results from the Pre-Khuff formation in the giant North Field off Qatar's coast.
    • Shell last year drilled a dry well in the field's Block D, which Qatar had considered the area's most promising exploration acreage, and the company is said to be discouraged from even attempting to drill a second well.
    • Shell's potential withdrawal is a blow to Qatar, which has become the world's largest producer of liquefied natural gas; several other energy companies have signed contracts to explore for gas in the formation, including Cnooc (NYSE:CEO) and GDF Suez (OTCPK:GDFZY, OTCPK:GDSZF).
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  • Jun. 24, 2014, 2:10 PM
    • The French government says it is selling a 3.1% stake in GDF Suez (GDFZY), with an option to sell as much as 3.6%, as part of an effort to raise cash and help pay for a controlling stake in Alstom (ALSMY), which is to merge its energy business with GE.
    • Based on Tuesday's closing price at the Paris Stock Exchange, the sale could raise €1.56B-€1.79B ($2.12B-$2.43B).
    | 5 Comments
  • Jun. 19, 2014, 8:15 AM
    • GDF Suez (GDFZY) and Santos (STOSF) decide to back away from a multibillion-dollar plan to develop natural gas fields offshore Australia using untested technology that can convert gas to a liquid at sea.
    • The thinking behind the technology is that it removes the need to build pipelines to the coast, but the cost of designing a liquefaction and storage system that can withstand the ocean has proven prohibitive.
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  • Jun. 6, 2014, 8:59 AM
    • GDF Suez (GDFZY) reportedly is looking to sell a major stake in its Australian electricity generation and retail business, as it intensifies moves to cut debt and boost profit hurt by Europe's slow recovery from the global financial crisis.
    • GDF is said to have hired Deutsche Bank to find a buyer for ~30% of its International Power Australia unit, which runs a coal-fired power plant in Victoria state along with two gas-fired power plants and a wind farm in South Australia state.
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  • Jun. 4, 2014, 10:54 AM
    • Norwegian onshore oil workers break off pay negotiations with employers, increasing the risk of a strike, as the industry fails to achieve full or partial deals in three separate discussions with workers on offshore platforms, supply bases and at oil service companies.
    • The Industry Energy union, which represents more than 75% of 5K onshore workers at companies like Statoil (STO) and BP, ended talks yesterday; negotiations now move to public mediation, where failure may result in a strike.
    • A strike would cut off ~50K bbl/day of oil at Exxon's (XOM) Ringhorne, Jotun and Baler fields, 28K bbl/day of oil and 11M cm/day of gas at GDF Suez’s (GDFZY) Gjoea field, and 22K bbl/day of oil from STO’s Vega field that goes through Gjoea.
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  • May 29, 2014, 6:47 PM
    • Avista (AVA) +5% AH after non-regulated subsidiary Avista Capital agrees to sell its Ecova unit, which provides expense management services for utility and telecom needs, to Cofely USA, a subsidiary of GDF Suez (GDFZY, GDSZF) for $335M.
    • AVA says it expects to use most of the proceeds to buy back stock and invest in its businesses.
    | 1 Comment
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Company Description
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Sector: Utilities
Industry: Water Utilities
Country: France