Photo: Image courtesy of Dunkerque LNG

Fluxys closes Total, EDF stake acquisition in Dunkirk LNG

Belgium-based Fluxys and its consortium partners closed the joint acquisition of a 35.76 percent stake in Dunkerque LNG, the owner of the liquefied natural gas terminal in Dunkirk, from EDF and Total.

Fluxys, already being 25 percent shareholder from the onset, now holds a 60.76 percent stake in the facility with its consortium partners AXA Investment Managers – Real Assets, acting on behalf of its clients, and Crédit Agricole Assurances.

Fluxys through the consortium has 30.39 percent in the capital of the terminal while AXA Investment Managers – Real Assets, on behalf of its clients,  and Crédit Agricole Assurances each hold around 15.19 percent.

Fluxys’ share in Gaz-Opale, the company operating the Dunkirk LNG terminal, stays unchanged at 49 percent, the remaining 51 percent being held by Dunkerque LNG, the company said in its statement.

Besides selling a 35.76 percent stake in the facility to Fluxys and its consortium partners, EDF and Total also sold their remaining 39.24 percent stake to a consortium of Korean investors led by IPM Group in cooperation with Samsung Asset Management.

Commissioned in January 2017, the Dunkirk LNG terminal is one of Continental Europe’s largest LNG terminals. With an annual regasification capacity of 13 billion cubic meters of natural gas,  the terminal can meet 20 percent of France and Belgium’s gas demand.

Through the direct pipeline connection between the terminal and the Belgian network, the facility access to the UK, Dutch and German markets.