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

The strategic alliance holds much potential for projects and investments, not only in Greece, but across South Eastern Europeas well.

At its first stage, the agreement concerns the acquisition of a 25% share in “Heron II” gas - fired Power Plant, for the amount of 58 millions of dollars.  

It's worth noting that the acquisition of the 25% share in “Heron II”, is QPI's first international participation in the energy production sector.

The GEK TERNA – QPI agreement signals the first investment of a Qatar State Company inGreece. It is a success story for GEK TERNA Group that also has a greater impact onGreece, as it is a vote of confidence of the State of Qatar to the potential of the Greek energy sector and the Greek economy in general.

QPI 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.