The Abu Dhabi National Energy Company PJSC (ADSM: TAQA) today announced its intention to see one of its European companies, TAQA Energy B.V., play an increasing role in the region’s energy sector.
Specifically, TAQA Energy B.V. will focus on E&P, storage, and LNG Regas. The company aims to be a leader in offshore LNG Regas by fully developing its facilities just off the port of Rotterdam.
The efforts of TAQA Energy B.V. will be led by its new managing director, Gregory Hay. Hay is an energy industry veteran, with considerable Netherlands experience.
“TAQA Energy B.V. is an ambitious player in Europe’s competitive energy sector,” said Peter Barker-Homek, CEO of TAQA. “Our recent appointment of Gregory Hay as managing director of the company is a signal to the industry that TAQA Energy B.V. is a leader with very clear growth goals in E&P, storage, and LNG Regas.”
Formerly BPNE, TAQA Energy B.V. is operator of onshore and offshore production assets, the Piek Gas Installatie (PGI) facility in Alkmaar, and gas storage facilities at the Bergermeer field in the Netherlands.
TAQA Energy B.V.’s parent company, Abu Dhabi National Energy Company PJSC (TAQA), carries an Aa3 and A+ credit rating and was recently presented Emerging Market Deal of the Year and Middle East Corporate Bond of the Year 2006 awards by EuroWeek.
About Abu Dhabi National Energy Company PJSC (TAQA)
Abu Dhabi National Energy Company (TAQA) www.taqa.ae is a global energy company with investment capabilities in power generation, CHP, desalination, renewables, upstream oil/gas, refining/retail, pipelines, services, structured finance and the creation, syndication and management of assets. TAQA was founded in Abu Dhabi in 2005 and listed on the Abu Dhabi Stock Exchange. TAQA has in excess of AED 31bn in assets, turnover of AED3.3bn, in excess of 7,000 MW (gross) of installed generation, upstream oil/gas production, gas processing, pipelines and natural gas storage. TAQA operates from its offices in Abu Dhabi, London and The Hague with alliance partners across the Gulf, Middle East, North Africa, Sub-Saharan Africa, Europe, Asia, Australia, and the United States.
About TAQA Energy B.V.
TAQA Energy B.V. comprises the Exploration & Production activities of BP Nederland Energie B.V that were acquired by TAQA on 1 February 2007. The business includes onshore and off-shore production assets, the Piek Gas Installatie (PGI) facility in Alkmaar and gas storage facilities at the Bergermeer field in the Netherlands which links Dutch and British gas hubs, of which TAQA is operator on behalf of various partnerships.
In February 2007 TAQA Energy B.V. announced its ambitions to develop one of the largest and first offshore LNG Regas facilities utilizing the depleted field P15/P18 just off the port of Rotterdam. TAQA expects to be able to provide LNG Regas at a cost below EUR 0.3 per mmbtu or 1 ct/m3, making it the choice destination for LNG producers targeting the UK and European markets.
Company Contact Details
Media Enquiries for TAQA Energy B.V. –
Ms. Geesje van Niejenhuis (+31 654 352 801) or Mr. Gerard Boulogne (+ 31 653788772)
Media Enquiries for Abu Dhabi National Energy Company PJSC –
Ms. Rosanne Blake (+971 50 2262 771) or Mr. Muien El Musa (+971.50.785.1772)
