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

Atlantic LNG shipping rates, European prices down

Atlantic LNG freight shipping rates and European prices decreased this week compared to the week before.

Glenfarne becomes majority owner of Alaska LNG

US energy firm Glenfarne has signed definitive agreements with state-owned Alaska Gasline Development Corporation to become the majority owner of the giant Alaska LNG export project.

Petronas to supply LNG to PetroVietnam Gas

Malaysian energy giant Petronas will supply liquefied natural gas (LNG) to PetroVietnam Gas, a unit of state-owned PetroVietnam, next month. The two firms will also look into the possibility of signing long-term LNG contracts.

More News Like This

Shell seals LNG deal with India’s IRM Energy

A unit of UK-based LNG giant Shell has signed a five-year deal to supply regasified LNG to India's IRM Energy.

China’s SIPG eyes LNG bunkering vessel order

China’s terminal operator, Shanghai International Port (SIPG), is looking to order one large liquefied natural gas (LNG) bunkering vessel, according to shipbuilding sources.

Shell CEO expects progress on Venture Global arbitration this year

Shell’s CEO Wael Sawan expects to have an update on an arbitration dispute with US LNG exporter Venture Global LNG later this year.

Shell plans to boost LNG sales by up to 5 percent per year

UK-based LNG giant Shell said on Tuesday it aims to reinforce its leadership position in liquefied natural gas by growing sales by 4-5 percent per year through to 2030.