In an exciting development, KICL (Kingdom Investment Corporation Limited) and Alba Global Energy Limited have joined forces to establish a joint venture company named Kingdom Alba Global Energy Limited. This collaboration sets the stage for a significant investment in a European company with substantial crude oil reserves earmarked for export.
The director of Kingdom Alba Global Energy Limited is Mathieu Mitterrand, an esteemed international expert in oil and gas trading. With over a decade of experience at one of France's largest energy companies, Mr. Mitterrand has honed his skills and knowledge in energy finance, trading, and investment, particularly in the Middle East, West Asia, and East Europe. His expertise extends to renewable energy solutions, and he possesses a deep understanding of structuring trade finance instruments for facilitating large-scale international trading operations.
Being a descendant of former President of France, H.E. François Mitterrand, Mr. Mathieu Mitterrand has also cultivated strong diplomatic skills and an extensive international business network from a young age. Leveraging these valuable assets, he is well-positioned to forge strong business relationships in Hong Kong, aligning with China's national development agenda, including the Belt and Road Initiative, as well as the internationalization of the RMB for oil and gas settlement. Furthermore, Mr. Mathieu Mitterrand will play a crucial role in training and building a team comprising local Hong Kong residents. By combining the existing expertise of Hong Kong traders with his international vision, he will spearhead the next generation of energy-related businesses, incorporating innovative trade finance engineering and renewable energy investment strategies.
About K&A Energy
Kingdom Alba Global Energy Limited (K&A Energy) is a registered company based in Hong Kong and represents a collaboration between Kingdom Investment Corporation Limited and Alba Global Trading Company Limited. This joint venture aims to capitalize on the emerging market opportunities arising from the enhanced cooperation between China and Gulf and Middle Eastern countries in the energy sector, specifically in oil and gas trading.
Leveraging its affiliation with the Kingdom group, K&A Energy possesses the financial resources and capabilities to become a prominent commodity trading company in Hong Kong, facilitating oil and gas trading between China and the rest of the world. K&A Energy has devised a strategy to secure long-term contracts with major producers from the Middle East, focusing on supplying Liquefied Natural Gas (LNG) and a significant volume of Crude Oil to its contracted buyers, primarily in mainland China via ports like Qingdao and other major ports connected to contracted refineries. Given the already promising prospects in place, K&A Energy's initial trade volume is projected to be substantial. In the subsequent years, the company plans to further expand its business by sourcing additional resources from Saudi Arabia and African countries to meet China's growing market demands.
This joint venture between KICL and Alba Global Energy represents a compelling opportunity to tap into the European gas market and leverage the expertise and financial strength of both companies. The combined efforts of KICL and Alba Global Energy, under the leadership of Mathieu Mitterrand, will undoubtedly drive remarkable growth in the energy sector and contribute to the sustained development of the oil and gas trading industry.
Stay tuned for further updates as Kingdom Alba Global Energy Limited embarks on this exciting venture, bringing new possibilities and shaping the future of the European gas market.
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