Subscribe free to our newsletters via your
. 24/7 Space News .

Veolia to pursue activities in shale gas sector: report
by Staff Writers
Paris, 08 Nov 2012

The French environmental services group Veolia unveiled a new UK contract on Thursday and said it would pursue work in treating water used in shale gas drilling, to compensate for growing competition in its core activities.

Veolia said it would manage waste for the English city of Leeds in a deal worth 460 million pounds (575 million euros, $730 million) over 25 years, while chairman Antoine Frerot told a French newspaper that Veolia would become active in the shale gas sector.

"We have unique expertise to take a position on major environmental problems," he told the business daily Les Echos.

"We are one of only two actors worldwide that knows how to treat water from shale gas operations," Frerot said.

The controversial technique known as fracking uses water mixed with sand and chemicals to fracture rock and open up pockets of natural gas, but the water often then needs to be treated to prevent pollution of underground aquifers.

The sector offers an opening for groups such as Veolia and French rival Suez, which face growing competition in their traditional markets of water and waste treatment.

However, regarding a decision by the last centre-right government in France to suspend the search for shale gas within France on environmental grounds, the current Socialist administration made clear this week that it would not reopen the issue, despite a recommendation to this effect in a report on how to raise the flagging competitive position of the French economy.

The exploitation of shale resurces in the United States has given a big boost to the US energy sector.

On Wednesday, Veolia released nine-month results and said it would trim its heavy debt by 2.5-3.0 billion euros in the fourth quarter of 2012.

The group's debt stood at 15.2 billion euros at the end of September.

Veolia has sold waste treatment activities in the United States and water operations in Britain to raise money for debt payments.

As for its nine-month results, Veolia said operating profit had fallen by 25 percent from the same period a year earlier to 841 million euros, a result that was better than a decline of 27 percent forecast by analysts.

Nine-month sales gained 3.0 percent to 21.6 billion euros.

Finally, Veolia said it has recruited a new chief operating officer, but did not disclose the executive's name.

On Thursday, Veolia shares jumped by 1.86 percent to 8.14 euros in midday trading on the Paris stock exchange, which was up by 0.63 percent overall.


Related Links
Powering The World in the 21st Century at

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Iraq expels Turkish firm from oil exploration deal
Baghdad (AFP) Nov 7, 2012
Iraq expelled Turkish national energy firm TPAO on Wednesday from a consortium which won an exploration contract in south Iraq, in the latest sign of worsening ties between Baghdad and Ankara. The two neighbours have been at odds over the Syrian conflict and Iraq has publicly urged Turkey to hand over fugitive Vice President Tareq al-Hashemi, who has been sentenced to death in Baghdad on cha ... read more

Moon crater yields impact clues

Study: Moon basin formed by giant impact

NASA's LADEE Spacecraft Gets Final Science Instrument Installed

Astrium presents results of its study into automatic landing near the Moon's south pole

More Driving And Imaging At 'Matijevic Hill'

Curiosity Team Switches Back to Earth Time

Survey of 'Matijevic Hill' Continues

Mars Longevity Champ Switching Computers

Voyager observes magnetic field fluctuations in heliosheath

New NASA Online Science Resource Available for Educators and Students

'First' Pakistan astronaut wants to make peace in space

Space daredevil Baumgartner is 'officially retired'

China to launch manned spacecraft

Tiangong 1 Parked And Waiting As Shenzhou 10 Mission Prep Continues

China to launch 11 meteorological satellites by 2020

China makes progress in spaceflight research

Crew Prepares for Spacewalk After Progress Docks

Crew Preparing for Cargo Ship, Spacewalk

Russian cargo ship docks with ISS: official

Packed Week Ahead for Six-Member Crew

Ariane 5 is poised for Arianespace's launch with the EUTELSAT 21B and Star One C3 satellites

Ariane 5 orbits EUTELSAT 21B and Star One C3 satellites

Arianespace's heavy-lift Ariane 5 flight is cleared for liftoff with EUTELSAT 21B and Star One C3

NASA's Vehicle Assembly Building Prepared for Multiple Rockets

Physicists confirm first planet discovered in a quadruple star system

Planet-hunt data released to public

New Study Brings a Doubted Exoplanet 'Back from the Dead'

New small satellite will study super-Earths for ESA

HTC and Apple reach global settlement

Nanocrystals and nickel catalyst substantially improve light-based hydrogen production

Apple still perched high, but seems vulnerable

Radar Production Readiness Review For Indonesia National Air Space Surveillance Program Completed

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement