European Energy Giants Active in North American Energy Sector

The rapidly developing internationalization of the energy sector was in full view in the U.S. last week when two major development-related announcements were made by European energy giants E.ON and Gazprom.

E.ON, the German energy giant, has completed a 781 megawatt wind project west of Fort Worth, Texas. Steve Trenholm, E.ON Climate and Renewables chief executive, said, "Completing the world's biggest wind farm took more than a $1 billion investment, coordination with more than 300 landowners, and management of more than 500 workers."

Meanwhile, Gazprom, Russia's largest company, has started trading and marketing natural gas in North America, a development that marks the company's first entry into the United States. "The development of new markets and products is key to Gazprom Group's global energy strategy," Vitaly Vasiliev, CEO of Gazprom U.K., said. "We have now achieved our goal of bringing the world's largest gas company into the world's largest gas market [the U.S.]. Our U.S. affiliate is now off and running, and we look forward to significant growth and profitability from our expanding geographical base."

E.ON has been active in the North American market for some years now, but Gazprom is just getting started. These announcements underscore the fact that energy professionals are very likely, in the course of their careers, to work for non-North American based companies. The energy sector is no longer primarily the domain of a handful of U.S. and U.K. companies -- it's a full blown world market now. And this means major opportunities for those who understand that studying in environments where cross culturalism is embraced -- such as DU -- will likely have an advantage over others for whom these developments are a total surprise.