Vitol has acquired a majority share in Liquind GmbH, a leading supplier of gas-for-transport in North West Europe, for an undisclosed sum.
Today, Liquind has a network of 15 outlets serving the trucking industry in Germany with LNG for transport, with the ambition to grow its network regionally and extend its offering to biogas for transport.
Russell Hardy, CEO Vitol, said: “We expect gas to become an important low emissions fuel for the trucking industry in Europe, with the market moving from LNG to bioLNG over time. We are delighted to be investing in one of Europe’s leading gas-for-transport companies and working alongside management to extend Liquind’s footprint and offering.”
Christian Schneider and Gabor Beyer, joint-MDs Liquind said: “Partnering with Vitol will enable us to realise our growth and development ambitions. Vitol is a major participant in gas markets worldwide, has a proven understanding of downstream networks and experience in handling biogas. We very much look forward to this next phase in our company’s future.”
Vitol is committed to investing in the energy transition. It is a significant investor in renewables, with over $1 billion capital committed to renewable power projects and has successfully invested in bio-digesters in the US. Investing in Liquind is aligned with Vitol’s core strategy of investing in assets which complement the trading business. Vitol anticipates that demand for low emission fuels will increase as the European trucking industry seeks a practical and timely means of reducing its carbon footprint.
Vitol is a leader in the energy sector with a presence across the spectrum: from oil through to power, renewables and carbon. It trades 7 million barrels per day of crude oil and products, and charters around 6,650 ship voyages every year.
Vitol’s clients include national oil companies, multinationals, leading industrial companies and utilities. Founded in Rotterdam in 1966, today Vitol serves clients from some 40 offices worldwide and is invested in energy assets globally including: circa 16 m m3 of storage globally, 500 k b/d of refining capacity, over 6,600 service stations and a growing portfolio of transitional and renewable energy assets. Revenues in 2020 were $140 billion.
Liquind is the market leader in Germany for supplying LNG to the heavy goods vehicles sector, with 15 LNG filling stations in operation. It aims to maintain its market leadership position by growing its portfolio by 100 stations over the next five years, and converting its supply to primarily bioLNG from sustainable sources such as food waste and animal manure, thereby leading the carbon reduction of the trucking and inland shipping industries.