Shell And Bechtel Create Intergen North America; New Venture To Develop Power Projects In U.s. And Canada
"With economic growth fueling more energy demand and older, less efficient power plants being retired, we see tremendous opportunities for InterGen North America," added Paul Unruh, president and chief operating officer of Bechtel Enterprises Holdings. "Our experience in developing, financing, permitting, constructing, and operating energy facilities will enable us to deliver clean, competitively priced power to this growing market."
The new InterGen North America operation will be headquartered in Houston. Carlos Riva, president and chief executive officer of InterGen, will also be the CEO of the new venture; a worldwide search for a president is underway. "We're very excited about this new venture," said Carlos Riva. "Much of our international experience is in highly deregulated markets and we look forward to leveraging that experience in the North American market," he added.
Shell's interest in InterGen North America is owned by subsidiaries of Shell Petroleum Inc., a holding company of the Royal Dutch/Shell Group of Companies. Shell companies have been actively building a downstream natural gas and power business in the U.S. and Canada, encompassing gas and power trading and marketing; financial and energy services; gas transportation and storage; natural gas liquids operations; and power generation. These companies have gas production of about 2.5 billion cubic feet per day (Bcf/d), more than 7.5 trillion cubic feet of gas reserves, and gas marketing volumes of about 9.2 Bcf/d.
The Bechtel organization is one of the world's premier engineering, construction, and project management companies. It has completed more than 15,000 projects in 140 countries on all seven continents, including more than 250,000 megawatts of generating capacity in over 450 power stations. Bechtel Enterprises Holdings, Inc., is Bechtel's financing, development, and ownership company, and will hold the interests in InterGen North America. Since 1990, Bechtel Enterprises has participated in arranging more than $14 billion in project financings; it is a leader in the privatized infrastructure market with interests in power generation, water and wastewater, transportation, pipelines, telecommunications, and other technology ventures.
For more information about Shell, please visit its home page on the Web, http://www.shell.com.
Bechtel is a trusted engineering, construction and project management partner to industry and government. Differentiated by the quality of our people and our relentless drive to deliver the most successful outcomes, we align our capabilities to our customers’ objectives to create a lasting positive impact. Since 1898, we have helped customers complete more than 25,000 projects in 160 countries on all seven continents that have created jobs, grown economies, improved the resiliency of the world's infrastructure, increased access to energy, resources, and vital services, and made the world a safer, cleaner place.
Bechtel serves the Energy; Infrastructure; Manufacturing & Technology; Mining & Metals; and Nuclear, Security & Environmental markets. Our services span from initial planning and investment, through start-up and operations. www.bechtel.com