Gaz de France poised to invest big in Polish energy

Gas de France (GdF) hopes for 25% to 30% of the shares in Poland' s gas distribution, since Poland is a strategic target in its coming investments, according to the firm' s representatives in-country. In addition, GdF wants to begin talks with Polish Oil and Gas (PGNiG) to cooperate on preparing the Eastern Europe gaspipe lines. GdF, which has recently opened a Warsaw office for investment in Poland and the Baltic countries, is also interested in the electro-energy sector. " By 2005-2006 we want to adapt a heating and power plant in order to fuel it with natural gas, an investment of $130 to $150 million," said Daniel Paccoud, the GdF president for northern Europe. In the first half of this year, GdF, together with Electricite de France (EdF), obtained 45% of Zespol Elektrocieplowni Wybrzeze (ZEW), worth zl. 260 million, and expects to invest more than zl. 680 million in ZEW during the next seven years. (Rzeczpospolita, p. B4)