Centrica takes stake in Gasrec

According to a joint statement, Centrica is taking a 16 percent stake and becomes one of three major shareholders in Gasrec, alongside energy giant BP and private family office 44 North.

The two firms did not provide the price of the transaction.

Gasrec says the investment will drive the next phase of its infrastructure ambitions, with plans to open a UK-wide network of open-access refuelling stations supplying renewable bio-LNG for the decarbonisation of heavy goods vehicles.

This year Gasrec has already opened three new customer refuelling sites, bringing its network to 18 operational stations across Britain.

Construction is currently at an advanced stage in Hams Hall for the firm’s second large-scale bio-LNG refueling facility for vehicles.

The development will take place in two phases, initially providing capacity for up to 300 gas-powered trucks to refuel on bio-LNG every day.

Over the next two years, the business plans further facilities in Warrington, Avonmouth, and other locations to be announced, to complement its existing flagship site at the Daventry International Rail Freight Terminal (DIRFT), plus the other bio-LNG facilities it operates.

“Demand for bio-LNG for transport is growing fast as more HGV operators make the switch – drawn by a clean, ready-to-use fuel which slashes CO2 emissions by up to 85 percent in comparison to diesel,” Chris O’Shea, CEO of Centrica, said.

Rob Wood, CEO of Gasrec, said bio-LNG and bio-CNG will play an “increasingly important role” in decarbonising road transport.

“As the number of refuelling sites across the strategic road network grows, so too will the viability of gas for more operators,” he said.

Europe’s network of liquefied natural gas (LNG) fueling stations for vehicles recently surpassed 800 stations, according to Eurogas.

Besides 801 LNG stations, there are 4234 CNG fueling stations for vehicles in Europe, data by the Brussels-based association shows.