NYK buys Gazocean from Total

Japan’s NYK said it has purchased France-based LNG ship management firm Gazocean from partner Total.

The Japanese shipping giant signed a sales and purchase agreement with Total on October 22 acquiring all the French company’s shares in Gazocean.

Before the purchase, NYK held 20% of Gazocean shares while Total held 80%.

Based in Marseille, Gazocean is responsible for the management of six LNG carriers.

These include Global Energy, Provalys, Gaselys, Grace Cosmos, and Grace Acacia. Earlier this year, newbuild Elisa Larus also joined the Gazocean fleet.

Besides these LNG carriers, Gazocean will operate the second LNG bunkering vessel under construction in China owned by MOL and chartered by Total.

NYK said the Gazocean acquisition will strengthen the firm’s ship-management system and expand the company’s LNG transportation business in France.

The Japanese firm did not disclose any financial details of the deal.

The acquisition has been reviewed by Gazocean’s employee representatives as part of the regulatory information and consultation procedure. It also has the approval of the competent authorities.

- Advertisements -

Most Popular

BP expects LNG demand to grow up to 40 percent by 2030

UK-based energy giant BP expects global demand for liquefied natural gas (LNG) to rise up to 40 percent by...

Venture Global’s Plaquemines LNG gets OK to introduce gas to GTG

US LNG exporter Venture Global LNG has received approval from US energy regulators to introduce natural gas to the...

AG&P LNG inks deal with BKLS to deliver spot LNG cargo to China

Nebula Energy’s AG&P LNG has signed a deal with Singapore-based BK LNG Solution (BKLS) to deliver one spot liquefied...

More News Like This

Malaysia’s Bintulu LNG plant to get first supplies from Jerun gas field

Malaysia's giant Bintulu LNG plant, operated by Petronas, will soon receive its first gas supplies from the Jerun field,...

Ocean Yield to buy CVC DIF’s stake in France LNG Shipping

Infrastructure fund CVC DIF has agreed to sell a stake in LNG carrier owner France LNG Shipping to KKR-backed...

Hudong-Zhonghua to build one LNG bunkering vessel for TotalEnergies

French energy giant TotalEnergies has selected China's Hudong-Zhonghua and Spain's Ibaizabal for the construction and charter of one LNG...

NYK, Pertamina’s shipping unit ink LNG carrier pact

Japan’s shipping giant NYK and Pertamina International Shipping (PIS), a shipping unit of Indonesia’s state-owned energy firm Pertamina, plan...