• 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.




2021 January 20

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17:46 Håkan Agnevall assumes the position of CEO of Wärtsilä on 1 February 2021
17:16 SMM DIGITAL to stream conference programme online free of charge
17:01 GTNS supports 4th International Congress “Hydraulic Engineering Structures and Dredging” as its Sponsor
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16:00 Krasnoye Sormovo shipyard launches dry cargo carrier Vladimir Latyshev
15:24 Port Houston presents 2040 Plan
15:07 RF Navy’s patrol boat "Yaroslav Mudry" conducts exercises in the sea ranges of the Baltic Fleet
14:45 Amendments to increase safety proposed to Finland's Water Traffic Act
14:26 Polaris sets off for the Bay of Bothnia as the season’s third icebreaker
14:02 First vessel certified with Responsible Fishing Vessel Standard by LR
13:41 SMM DIGITAL: Leading international maritime trade fair to stream conference programme online free of charge
13:23 Port of Los Angeles to reward container terminals for higher truck productivity
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12:35 Seaports of Okhotsk Sea and Tatar Strait increased their throughput by 4.4% YoY
12:21 Port of Zeebrugge container volume up 10.3 percent in 2020
12:10 CMA CGM announces PSS for cargo from India to North Europe & the Mediterranean
11:43 Rosmorport’s icebreakers completed over 2,400 pilotage operations in freezing seaports of Russia this season
11:18 Global Ports’ consolidated marine container throughput for the full year 2020 increased by 6.6%
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10:30 MABUX: Bunker market this morning, Jan 20, 2021
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09:51 Crude oil prices rise on optimism driven by economy support
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09:16 Baltic Dry Index as of January 19

2021 January 19

18:05 Wärtsilä signs a 5-year long-term service agreement with leading Chinese dredging company
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17:25 CMA CGM announces FAK rates from the Middle East Gulf to North Europe and the Mediterranean
17:00 Annual German Maritime Forum to be held as a digital event on 28 January 2021
16:35 Austal launches VOLTA series of electric-powered high speed ferries
16:15 Market leader in bioplastics chooses port of Rotterdam
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15:42 MES-S completes delivery of 87,000 dwt type bulk carrier to OCEAN JADE
15:11 ABS-Classed Suezmax is world’s first ammonia ready vessel
14:41 7th Port Planning & Development Asia Summit to be held live online on 2-5 March 2021
14:20 Alfa Laval joins forces with marine industry players to accelerate decarbonization
14:19 Throughput of port Kavkaz in 2020 rose by 13% Y-o-Y
13:56 Infocus International to hold online course on LNG business in 2021
13:18 Szczecin-Świnoujście Port complex reports on cargo handling in 2020
12:55 Russian Fishery Company demonstrated high results in 2020
12:23 RF Navy’s frigate "Admiral of the Fleet Kasatonov" makes business call at port city of Algeria
12:00 Samskip to start new container service between Amsterdam and Dublin
11:49 Beloomut hydrosystem to begin operation in April 2021
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10:51 MABUX: Bunker market this morning, Jan 19, 2021
10:46 Costa Toscana floated out at Meyer Turku shipyard
10:20 DP World Antwerp Gateway orders fleet of Automated Stacking Cranes from Konecranes
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09:34 GTT receives its first order of 2021, from a SHI for the tank design of a new LNG carrier
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09:09 Baltic Dry Index as of January 18

2021 January 18

18:56 CMA CGM applies Local Port Charges for USA imports/export
18:26 The Valencia Containerised Freight Index rises 4.19% in December 2020
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17:26 Hanseaticsoft’s Cloud Fleet Manager endorsed by Singapore government to help shipping companies accelerate their digitisation
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16:47 SCF’s LNG carrier Christophe de Margerie completed her eastbound voyage carrying cargo of LNG along NSR