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Qatar Petroleum spreads to Greece

Staff writer |
A strategic alliance agreement was signed between Qatar Petroleum International (QPI) and the Greek GEK TERNA Group of Companies.

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The strategic alliance holds much potential for projects and investments, not only in Greece, but across South Eastern Europe as well. At its first stage, the agreement concerns the acquisition of a 25% share i Heron II gas power plant, for the amount of $58 millions.

The acquisition of the 25% share in Heron II is Qatar Petroleum International's first international participation in the energy production sector. The GEK TERNA – QPI agreement signals the first investment of a Qatar State Company in Greece. This is a vote of confidence of the State of Qatar to the potential of the Greek energy sector and the Greek economy.

Qatar Petroleum International was established in 2006 as a wholly-owned subsidiary of Qatar Petroleum (QP), the state-owned national oil company of the State of Qatar. QPI has activities in Europe (the United Kingdom, Italy) North America (The United States and Canada), Asia (Singapore and Vietnam) and Africa.

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