The consortium, which includes NYK, Geogas Maritime, DIF Management, and Marigold, a subsidiary of Access Capital Partners, has received approval from the European Commission for the joint acquisition of France LNG Shipping (FLS), reports Offshore Energy.
The European Commission, which was notified of the proposed transaction on August 21, 2024, has completed a thorough review and concluded that the acquisition would not disrupt competition in the European liquefied natural gas (LNG) shipping market.
FLS
Following the approval, the parties involved will jointly control FLS, with the aim of strengthening their positions in the LNG shipping market.
Energy security
LNG has played a crucial role in Europe’s energy security, especially as the continent shifts away from high-emission sources. Given the growing demand for reliable and low-carbon alternatives, LNG has become an important element of energy diversification strategies.
The consortium’s consolidation of ownership of FLS is expected to support further investments in cleaner technologies and expand the reach of LNG in energy markets, according to the EU Agency for the Cooperation of Energy Regulators (ACER).
In 2019, DIF, Geogas Maritime, and Access Capital Partners, along with NYK, finalized the acquisition of a 50% stake in a French company that would operate a fleet of five LNG carriers.
Did you Subscribe to our daily newsletter?
It’s Free Click here to Subscribe!
Source: Offshore energy
