GDF Suez Eyes Shale Gas Opportunities in Europe

GDF Suez is considering investments in the shale oil and gas industry in Germany, Poland and the UK, reports Bloomberg on Thursday.

“We are already doing a little in Germany,” Chief Executive Officer Gerard Mestrallet said, adding that GDF Suez eyes opportunities also in Latin America, especially in Brazil and Chile.

France-based GDF Suez voiced its concern over the ban on shale gas imposed by the Nicholas Sarkozy’s government and strongly supported by Francois Hollande. Total expressed similar opinions.

“For the moment, we are evaluating and analysing. We will then decide,” Mestrallet said in the conference outside Paris.

GDF Suez is the owner of Europe’s biggest natural gas network. The company recently bought assets in the UK.

In October 2011, the CEO of French energy giant said that closing the door to shale gas development would have been a "a major mistake."