GDF SUEZ chooses Bucharest as centre of its Eastern European operations

GDF SUEZ, the operator of Europe's biggest gas network, which has recently become the world's second biggest electricity generator, says that Romania is the centre of operations for the Eastern European area, at the helm of which it brought French-born Eric Stab in late June.

Domestically, GDF SUEZ controls the biggest natural gas distributor, the former Distrigaz Sud, a company it took over in 2005 in the wake of a privatisation process. According to the Trade Registry data, the turnover of former Distrigaz Sud, rebranded as GDF SUEZ Energy Romania, last year hit over 1bn euros, with the company currently employing 4,300 people compared with around 11,000 at the moment of privatisation.
Management changes come amid the reorganisation of GDF SUEZ's operations depending on activities and geographical regions globally. Thus, whereas Romania used to be part of the same region as Greece, Bulgaria, the former Yugoslavia and Albania, at present the region to be run from Bucharest will only comprise Romania, Turkey and Slovakia, with the group opting to keep its headquarters in Bucharest.
The decision comes as the company is involved in a series of major projects on the Romanian market.