• 2018 July 1 15:47

    Dunkirk LNG terminal to become part of the Fluxys group

    Fluxys with consortium partners AXA Investment Managers – Real Assets, acting on behalf of its clients, and Crédit Agricole Assurances have agreed to jointly acquire from EDF and Total a 35.76% stake in Dunkerque LNG, owner of the liquefied natural gas (LNG) terminal in Dunkirk. Through the transaction the Dunkirk LNG terminal is to become part of the Fluxys group, the company said in its press release.
     
    EDF and Total currently between them own 75% of the Dunkirk LNG terminal while Fluxys is 25% partner. Besides agreeing to sell a 35.76% stake in the facility to Fluxys and its consortium partners, EDF and Total also agreed to sell the remaining 39.24% stake to a consortium of Korean investors led by IMP Group.

    Upon completion of the transaction Fluxys and its consortium partners will have a 60.76% stake in the facility. With Fluxys already holding 25% in the facility, the company through the consortium will have ~ 30.39% in the capital of the terminal while AXA Investment Managers – Real Assets, on behalf of its clients, and Crédit Agricole Assurances each will hold ~15.19%. Closing of the acquisition process is expected in the autumn. Fluxys’ share in Gaz-Opale, the company operating the Dunkirk LNG terminal, stays unchanged at 49%, the remaining 51% being held by Dunkerque LNG.

    With gas transmission, gas storage and LNG terminalling being the three pillars of Fluxys’ industrial activity as gas infrastructure group, the acquisition fits in seamlessly with the company’s core business and its growth strategy. The transaction strengthens Fluxys’ position in the European LNG infrastructure business and the Dunkirk LNG terminal also holds sound prospects for further growth by developing its small-scale LNG potential, marketing the capacities still available and making the commercial offering evolve with market needs.

    Pascal De Buck, managing director and CEO of Fluxys: “Having Fluxys as core shareholder is a key asset for the Dunkirk LNG terminal. We have extensive first-hand experience with the facility as we have been partner from the very onset and we are committed to move its business forward while ensuring a top-notch operational record with clients and high safety and environmental standards. The Dunkirk LNG terminal will also benefit from the LNG expertise within the Fluxys group and especially at the Zeebrugge LNG terminal. Besides our strong industrial expertise we bring with our consortium partners a long-term investment outlook and financial strength.”

    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 m³ of natural gas, the terminal can meet 20% of France and Belgium’s gas demand. Through the direct pipeline connection between the terminal and the Belgian network, the terminal provides its clients with easy and flexible access to the UK, Dutch and German markets.

    The Dunkirk LNG terminal’s business is underpinned by long-term earnings with about 75% of the terminal’s capacity contracted with EDF and Total under 20-year contracts until 2036. The remaining c. 25% of terminal capacity is available for marketing to serve both the Northwest European market as declining production requires additional supply and the growing demand for transshipment capacity.




2020 January 21

18:27 ABS and Hyundai Heavy Industries complete landmark smart functions JDP
18:07 Mystic orders four more Explorer Class Polar expedition vessels
17:43 Outer Port is among main topics of Polish-Japanese economic cooperation
17:19 Wärtsilä LNG Bunkering & Fuel Supply System Simulator launched to raise training levels
17:18 BCT ends 2019 with highest every cargo handling of 500 000 TEU
16:55 Letter of Intent signed between Port of Gdynia Authority S.A. and Pelixar S.A.
16:14 New ASCO vessel to be named after Academician Khoshbakht Yusifzadeh
15:30 Port of Singapore throughput in 2019 declined by 0.6% to 626.18 million tonnes
15:01 Freight turnover of Neva-Metal (Saint-Petersburg) in 2019 remained flat Y-o-Y at 3.2 million tonnes
14:39 18,880 ships with total tonnage of 1.2 billion tonnes passed Suez Canal in 2019
14:06 BIMCO issues update on Persian Gulf tensions and sanctions clauses
13:42 Rosmorport reports on icebreaker support in Russian seaports as of mid-January 2020
13:17 Throughput of port Kaliningrad in 2019 fell by 21% Y-o-Y to 11.06 million tonnes
12:53 Eesti Gaas becomes one of the largest LNG suppliers in the region
12:28 Throughput of port Vyborg in 2019 fell by 37% Y-o-Y to 1.21 million tonnes
12:05 German Naval Yards Kiel takes legal actions against MKS 180 procurement
11:54 Bunker sales at the port of Singapore in 2019 fell by 4.6% Y-o-Y to 47.5 million tonnes
11:29 Throughput of port Vysotsk in 2019 climbed by 3% Y-o-Y to 19.40 million tonnes
11:05 Fincantieri enters the green cutting-edge project “ITER”
10:52 Throughput of port Primorsk in 2019 grew by 14% Y-o-Y to 61.02 million tonnes
10:37 Software for ship agents supported with digitalisation grant
10:21 Baltic Dry Index is down to 729 points
10:05 Brent Crude futures price is down 0.55% to $64.84, Light Sweet Crude – down 0.32% to $58.39
09:53 MABUX: Bunker market this morning, Jan 21
09:47 MOL Logistics (Thailand) strengthens total logistics services
09:30 Port of Ust-Luga handled 103.85 million tonnes in 2019, up 5% Y-o-Y
09:13 Throughput of Port St. Petersburg in 2019 grew by 1% to 59.87 million tonnes
08:44 Maersk Drilling awarded two-well contract extension for low-emission rig Maersk Integrator under Aker BP alliance
07:41 Kuehne + Nagel to accelerate development in Asia Pacific

2020 January 20

18:37 Semi-submersible installation vessel ‘Alfa Lift’ nominated for Offshore Renewables Award 2020
18:06 Freeport LNG achieves start of commercial operations for second liquefaction train
17:55 Russia and Japan to conduct joint exercise in the Arabian sea
17:39 Kawasaki Heavy Industries announces delivery of bulk carrier NAVIOS FELICITY Ⅰ
17:34 Corvette "Gremyaschiy" completed a series of tests in the Barents sea
17:06 MSC Cruises and Chantiers de l’Atlantique sign contracts for construction of third and fourth LNG-powered MSC World Class ships
16:52 Cryostar and KC LNG awarded contract for building LNG facility in port of Antwerp
16:33 London, UK to host Digitalised Smart Ports Conference on 20-21 May 2020
16:09 PETRONAS concludes 12-year LNG deal with Shenergy
15:41 APM Terminals signs partnership with Brasco for oil exploration support
15:25 BIMCO’s sounding board to take sale and leaseback project to the next phase
14:58 88% of comprehensive plan for upgrading and expanding core infrastructure fulfilled by 1 January 2020
14:26 Port of Kiel concludes last year with good results
14:02 Port of Tallinn reports on its most important events and projects in 2019
13:07 Geothermal energy research in Port of Rotterdam enters next phase
12:59 Pella shipyard commenced construction of two crab catching vessels of Project 03070 for the Far East
12:37 Average wholesale prices for М-100 HFO up to RUB 10,074 in RF spot market
12:11 Crews of ships of RF Navy's Primorsky Flotilla are preparing to the sea campaigns
11:05 17 Carriers and ports release Boao Cooperation Initiative 2020
11:00 IAPH welcomes new member port from Oman
10:36 MABUX: Bunker market this morning, Jan 20
10:18 Container throughput of port Hong Kong (China) down 6.3% to 18.36 million TEUs in 2019
09:55 Buenos Aires, Argentina to host LNG Latin America 2020 International Congress on 17-18 June
09:32 Brent Crude futures price is up 1.3% to $65.69, Light Sweet Crude – up 1.14% to $59.25
09:14 Baltic Dry Index is down to 754 points

2020 January 19

18:07 TORM increses its share capital due to exercise of Restricted Share Units as part of the Company’s incentive program
17:57 USCG halts illegal charter in Sarasota Bay
14:27 Torqeedo and ZF cooperate on new emission-free electric propulsion for water taxis and ferries
12:39 Kalmar delivers to Medcenter Container Terminal its 200th straddle carrier
11:43 NOC condemns calls to blockade oil facilities
10:24 Port of Oakland's 2019 container volume down 1.8% due to fewer empty boxes