Shell sells Norway’s LNG supplier Gasnor to Molgas

A unit of energy giant Shell said Thursday it sold its Norwegian downstream business Gasnor to Spanish small-scale LNG player Molgas.

The transaction involves the transfer of A/S Norske Shell‘s complete shareholding in Gasnor to Molgas, Shell said in a statement. Deal completion took place directly after signing.

In addition, all of Gasnor’s 52 staff will continue their employment under Molgas.

Shell has been 100% owner of Gasnor since 2012. The downstream LNG company, headquartered in Avaldsnes, Norway, owns several small-scale production facilities from which it supplies fuel via trucks or chartered bunkering vessels.

The sale of Gasnor to Molgas has no effect on the operations or organisation of Norske Shell, the company said. It also does not affect Shell’s interests in the Gibraltar LNG terminal and Gasnor will continue to provide operator services to the facility, it said.

Shell did not disclose the price Molgas paid for taking over Gasnor.

Molgas has a network of LNG filling stations and mainly operates in Spain, Portugal, and France but also throughout Europe with a presence in Italy, Belgium, and the UK.

To remind, French private equity firm InfraVia Capital Partners said last year it acquired Molgas via its InfraVia European Fund IV.

InfraVia said in a separate statement the acquisition of Gasnor makes Molgas the “leading small-scale LNG platform, with pan-European presence and strong expertise across all applications: industry, cogeneration, bunkering, fueling stations, etc.”

Moreover, the group plans to further expand in Europe and “lead the development of biogas and hydrogen distributed infrastructure.”

Most Popular

Canada’s Cedar LNG names FLNG

Canada’s Cedar LNG, a joint venture of Canada’s Pembina Pipeline and the Haisla Nation, has picked a name for its floating LNG facility, which will be located in the traditional territory of the Haisla Nation, on Canada’s West Coast.

NextDecade, Jera seal 20-year LNG SPA

Japan's Jera has signed a 20-year deal to buy liquefied natural gas from the planned fifth train at NextDecade's Rio Grande LNG facility in Texas.

US weekly LNG exports reach 29 cargoes

US liquefied natural gas (LNG) plants shipped 29 cargoes during the week ending May 28. According to the Energy Information Administration, pipeline deliveries to the LNG terminals remained unchanged compared to the prior week.

More News Like This

Shell shareholders re-elect CEO Wael Sawan

Wael Sawan will continue to lead London-based LNG giant Shell following shareholder voting at the company's annual general meeting on Tuesday.

Singapore’s FueLNG wraps up 400th STS bunkering operation

Singapore’s FueLNG, a joint venture consisting of Shell and Seatrium, has completed its 400th ship-to-ship (STS) LNG bunkering operation. FuelLNG delivered LNG to BYD Shenzen, which is said to be the world’s largest LNG-fueled car carrier.

Peru LNG terminal shipped three cargoes in April

Peru LNG’s liquefaction plant at Pampa Melchorita has shipped three liquefied natural gas cargoes in April due to restrictions on the transportation system, according to operator Hunt Oil.

CFO: Shell on track to ship first LNG Canada cargo in middle of 2025

LNG giant Shell remains on track to deliver the first liquefied natural gas cargo from its LNG Canada export terminal in Kitimat in the middle of this year, according to Shell's finance chief, Sinead Gorman.