Titan, Rolande acquire Engie LNG Solutions
Titan LNG, the service supplier of liquefied natural gas and its sister company Rolande have acquired Engie LNG Solutions.
The acquired entity covers the downstream LNG activities of Engie in the Netherlands and Belgium, Titan LNG said in a statement.
Rolande will add Engie’s 4 truck-fueling stations to its network, bringing the total number to 12, while the marine activities will be merged into the portfolio of Titan LNG, including projects and existing customer contracts.
Titan believes the activities of Engie LNG Solutions fit its strategy and that this combination will help the company accelerate the delivery of LNG to its industrial and shipping customers.
Titan LNG noted that its first LNG bunkering pontoon, the FlexFueler001 will be operating in the Amsterdam-Rotterdam-Antwerp (ARA) region by the end of this year. The company expects to use the bunkering pontoon to capture the growth in the market.
Engie decided to sell its worldwide activities in the production and trading of LNG to Total last year.
As a result, the sale of LNG to end-users in the Netherlands and Belgium had to be reconsidered and a decision was reached to divest Engie LNG Solutions, Titan LNG’s statement reads.