Partnership with China Investment Corporation
On December 20, 2011, ENGIE concluded an agreement with China Investment Corporation (CIC) for a minority investment in the Group’s Exploration & Production activity. ENGIE E&P became ENGIE E&P International. The resulting shareholding structure is as follows:
- 70% ENGIE Group
- 30% CIC Group
Board of Directors
ENGIE E&P International’s Board of Directors is composed of seven members:
- 5 from ENGIE Group including:
– Pierre Chareyre, Chairman of the Board
– Didier Holleaux, Executive Vice President of ENGIE
- 2 from CIC
The Board of Directors meets at least three times per year to discuss budgets, financial reporting, corporate governance, business development and strategy and whenever its decision is necessary to approve projects, acquisitions and investments.
The Executive Committee consists of eight members, headed by Didier Holleaux, Executive Vice President of ENGIE. This committee meets often to discuss resource allocation, processes and decision-making.
Global Gas & LNG Business Line
The Global Gas & LNG Business Line oversees two business units: ENGIE E&P International and LNG. Responsible for organisation and delegation of authority, the business line fosters collaboration and synergy for projects common to the two business units.