Reganosa shuffles structure targeting growth

Spanish LNG terminal operator Reganosa has updated its structure formalizing the creation of a Galician multinational energy company with an aim securing a larger global market share. 

Reganosa said in its statement that, from now on, a parent company from Mugardos, Reganosa Holdco, will manage three partnerships: one dedicated to services, Reganosa Servicios, which operates in LNG plant of Malta, another one related to asset investment, Reganosa Asset Investments and Regasificadora del Noroeste, which is authorised and designated as a transmission system operator (TSO), which operates its own gas pipelines and which is owner of the LNG terminal in the port of Ferrol.

This new structure of the group aims to help Reganosa contribute to its solvency in order to undertake projects in Galicia which would include the creation of an LNG hub in the northwest of the Iberian peninsula and the building of gas pipelines for connecting Galicia with the whole gas system.

Xunta de Galicia and Grupo Tojeiro invested their shares of Reganosa in the head of the group and will share 100 percent of the parent company.

Reganosa Holdco will manage 100 percent of Reganosa Servicios, as well as Reganosa Asset Investments, and, initially, a 75 percent of Reganosa. Japan’s Sojitz and Algeria’s Sonatrach will 15 percent and 10 percent, respectively.