Engie – Multinationals Observatory

Born in 2008 from the highly contested merger of Gaz de France and Suez, the Engie group (formerly GDF Suez) is one of the largest energy groups in the world. From large dams in the Amazon to nuclear power in Belgium, including coal (from which it is seeking to divest), gas and renewables, Engie is present in all energy sources, and across the entire planet, with highly contested projects.

It has experienced many strategic procrastination over the years, betting on fossil fuels with the acquisition of International Power in 2011, then on the transition in 2015 on the occasion of COP21 in Paris, then refocusing again on part of its historic gas business. It has just shed its shares in Suez (in favor of Veolia) and its service activities (in favor of Bouygues). The French State remains an important shareholder, but does not hide its intention to withdraw from the company in the long term.

The only common thread in the recent history of Engie seems above all to be the way in which its energy activities have been managed, in the context of the liberalization of the sector, in a purely financial logic, often short-sighted, which has above all benefited shareholders. .

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