Vitol into Small Scale LNG with the acquisition of Liquind
21 Oct 2021 - ConferenzaGNL
On 28 September Vitol Group, world leader in the trading of energy commodities, announced the entry of the small scale LNG sector with the purchase of a majority stake in Liquind GmbH, one of the main suppliers of gas for transportation in the north-west of Europe.
Liquind has a network of 15 LNG trucking outlets in Germany, with the goal of reaching 100 service stations by 2026 and extending its bioGNL offering. Liquind is also active in maritime refueling and last August delivered the hundredth cargo of LNG to the ferry ship Elbferry Greenferry 1, in collaboration with compatriot GasCom.
Last June Liquind announced an agreement with and biogas plant operator and technology developer EnviTec Biogas AG (EnviTec) for the supply of bioGNL. In May 2021, EnviTec announced the purchase of BioEnergie Park Güstrow in Mecklenburg, West Pomerania, one of the largest biogas plants in Germany, to reuse the biomethane injected into the grid to produce bioLNG.
Russell Hardy, CEO of Vitol, said: “We expect gas to become an important low-emission fuel for the transport industry in Europe as the market moves from LNG to bioLNG over time. We are delighted to invest in one of Europe’s leading transportation gas companies and to work alongside management to extend Liquind’s footprint and offering. “
Christian Schneider and Gabor Beyer, Liquind joint CEOs, said: “The partnership with Vitol will enable us to realize our growth and development ambitions. Vitol is a major player in gas markets around the world, has a proven understanding of downstream networks and experience in biogas management. We look forward to this next phase of the future of our company ”. The investment in Liquind, reports the note from Vitol, is in line with the main strategy of investing in assets that complement the trading activity. Vitol predicts that the demand for low-emission fuels will increase as the European trucking industry strives to reduce its carbon footprint.