The European Commission has approved Total to acquire the portfolio of liquefied natural gas (LNG) assets owned by ENGIE.
The ENGIE LNG asset portfolio includes LNG supply, sale and regasification contracts, ownership and drawing rights to liquefaction plants and LNG tankers, as well as the legal entities and personnel associated with these activities.
“Total is an energy provider with international operations in the oil and gas, renewable energy and power generation sectors,” says a statement from the European Commission.
“The Commission concluded that the proposed acquisition would not give rise to competition concerns in light of the limited overlap between Total's and ENGIE LNG's activities in the wholesale supply, transportation and regasification of LNG, than the liquefaction of natural gas.
“In addition, the vertical relationships between Total and Engie LNG are not likely to weaken competition in the wholesale supply and regasification of LNG in the European Economic Area and in France in particular.”
ENGIE, together with its partners under the Gas4Sea brand, operate the 5,000-cbm LNG bunker vessel Engie Zeebrugge (built 2016).
Titan LNG and its sister company Rolande, meanwhile, has announce the acquisition of ENGIE LNG Solutions B.V. as per the first of March 2018. The entity covers the downstream LNG activities of ENGIE in The Netherlands and Belgium.
Rolande will add ENGIE’s four truck-fuelling stations to its network, bringing the total number to 12. The marine activities will be merged into the portfolio of Titan. This includes projects and existing customer contracts.
“Titan believes this acquisition is good news for all our customers as the activities of ENGIE LNG Solutions fit our strategy perfectly,” it says.
“This combination will help us to accelerate the safe, affordable, and flexible delivery of LNG to our industrial and shipping customers.
“Our LNG Bunkering pontoons will put us in a good position to capture the growth in the market. The first bunkering pontoon the FlexFueler001, will be operational in the ARA region this year.”
Photo credit: Titan LNG
Published: 17 April, 2018
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