Gaz de France
| File:Gaz de France.png | |
| Industry | Energy |
|---|---|
| Founded | 1946 |
| Defunct | 22 July 2008 |
| Fate | Integration with Suez |
| Successor | Engie Suez Environnement |
| Headquarters | 17th arrondissement, Paris, France |
Key people | Jean-François Cirelli (Chairman of the board and CEO) |
| Products | Natural gas production, distribution, and sales, energy trading |
| Revenue | Increase €27.4 billion (2007) |
| €2.5 billion (2007) | |
Number of employees | ~30,000 (2007) |
| Website | gazdefrance.com |
Gaz de France (GDF) was a French energy enterprise focused on the production, transportation, and commercialization of natural gas. While its primary operations were in France, it also maintained activities across Belgium, the United Kingdom, Germany, and additional European nations. The company held an interest in the Belgian nuclear energy producer SPE. On 22 July 2008, GDF combined with utility firm Suez, resulting in the creation of GDF Suez. Its main office was situated in the 17th arrondissement of Paris.
History
Founded by the French government in 1946 alongside its counterpart Électricité de France (EDF), Gaz de France later broadened its scope to include electricity services following the liberalization of European energy markets. The two entities operated independently with separate distribution arms: Gaz de France Distributor oversaw gas distribution, whereas EDF managed electricity networks. They cooperated through “EDF Gaz de France Distribution,” which handled field-level operations such as meter reading and customer connections. In January 2008, this joint operation was divided into ErDF—fully owned by EDF—and GrDF—wholly owned by Gaz de France—which subsequently became part of GDF Suez.
In July 2005, Gaz de France conducted a partial public offering on the Euronext Paris stock market, generating €2.5 billion for the French government, which retained approximately an 80% ownership stake until the merger in 2008. After this merger, the French state’s share in GDF Suez was around 35.7%.
Merger with Suez
On 25 February 2006, then French Prime Minister Dominique de Villepin declared plans to merge Suez with Gaz de France to establish the world's largest entity in the field of liquefied natural gas. Given that the French government held over 80% of Gaz de France's shares, legislative approval was necessary to facilitate this transaction. The process was supervised by R N Rothschild & Sons Investment Bank.
By 3 September 2007, both companies had reached an agreement on merger terms involving an exchange ratio where every 21 Gaz de France shares would be swapped for 22 shares of Suez, resulting in Gaz de France absorbing Suez. The French government would maintain a stake exceeding 35% in the merged organization named GDF Suez.
Although initially resistant to the proposal, former President Nicolas Sarkozy eventually endorsed it despite significant political resistance from left-wing parties, Gaullists, and labor unions worried about potential impacts on energy price regulation. Opponents submitted a total of 137,449 amendments aimed at obstructing progress and potentially prolonging parliamentary approval for up to ten years. While constitutional mechanisms existed for the government to circumvent this filibuster tactic, they were ultimately not employed.
The privatization of Gaz de France was authorized by Law No. 2006-1537 dated 7 December 2006. On 2 September 2007, board members from both companies ratified the merger agreement. The newly formed company, GDF Suez, officially commenced operations on 22 July 2008 and ranked as the second-largest global public utility with revenues amounting to €74 billion.
Previous Company Leaders
- Robert Hirsch : 1970–1975
- Pierre Alby : 1979–1986
- Jacques Fournier : 1986–1988
- Françis Gutmann : 1988–1993
- Loïk Le Floch-Prigent : 1993–1996
- Pierre Gadonneix : 1996–2004
- Jean-François Cirelli : 2004–2008
Executive Team (2007)
- Yves Colliou – Deputy Chief Executive Officer
- Jean-Marie Dauger – Deputy Chief Executive Officer
- Stéphane Brimont – Chief Financial Officer
- Emmanuel Hedde – Secretary General
- Pierre Clavel – Director of International Operations
- Henri Ducré – Chief Executive Officer, Energie France
- Philippe Saimpert – Director of Human Resources
- Raphaële Rabatel – Communications Director
- Jean-Michel Carboni – Head of Central and Eastern European Division
- Jean-Paul George – Chairman of Cofathec Group
Corporate Headquarters
The headquarters of Gaz de France were situated in the 17th arrondissement of Paris. The company occupied this facility, which was built in the late 1950s, starting from the early 1960s.
External Resources
- Gaz de France Official Website (Archived)
- English Version (2007–2008)
- English Version (2005–2006)
- English Version (2001–2002)
- English Version (1998–1999)
- GDF Suez Official Website