Asterion Industrial Partners, an independent investment management firm focused on infrastructure investments in the European mid-market, announces the acquisition of 25% stake in FluxDune, and indirectly, a c.15% stake in Dunkerque LNG (the “Company”), France’s largest LNG receiving and regasification terminal facility and one of the largest in continental Europe.

Dunkerque LNG, with a capacity of 13 bcm per annum, is the only European terminal with direct connection to two markets – France and Belgium – and is strategically positioned to address the energy security needs of continental Europe. Operating since January 2017, it is one of Europe’s most modern, featuring an innovative design, advanced technical capabilities and a focus on minimizing CO2 emissions. The terminal’s leading ESG strategy emphasizes reducing environmental impact, exemplified by its unique use of recycled warm water coming from a nearby nuclear plant for liquified natural gas regasification.

With this new investment in France, Asterion continues to expand its presence in the country, leveraging on its industrial approach, execution speed, and market insights. This represents the fourth investment for Fund III and the formation of a new partnership with majority shareholder Fluxys, a top-tier European infrastructure group central to the asset’s notable achievements to date.

“We are excited to partner with Fluxys and other shareholders on this critical infrastructure asset. We look forward to contributing our commercial and technical skillset to the Company’s long-term operational success story and prominence in the European energy landscape” said Jesús Olmos, founding partner and CEO from Asterion Industrial Partners.

“Fluxys is proud of the progress achieved since becoming a core shareholder in the Dunkerque LNG terminal. We are delighted to welcome Asterion as a partner and are excited to work together to build upon this success, and further cement the terminal’s position as a key infrastructure in the future European energy landscape” said Pascal De Buck, Managing Director and CEO of Fluxys.

The increasing demand for natural gas and the expansion of supply routes have led to a rapid growth in global LNG imports. European terminals, like Dunkerque LNG, are experiencing higher utilization rates, highlighting their strategic importance. In the current geopolitical environment, these regasification hubs are crucial for ensuring energy security, offering Europe diversified and reliable access to international energy supplies. This dynamic enhances Europe’s resilience against supply disruptions and supports the transition to cleaner energy sources.

About Asterion

Asterion industrial Partners is an independent investment management firm focusing on European infrastructure.

About Fluxys

Headquartered in Belgium, Fluxys is a fully independent infrastructure group with more than 1,300 employees active in gas transmission & storage and liquefied natural gas terminalling. Through its associated companies across the world, Fluxys operates 28,000 kilometres of pipeline and liquefied natural gas terminals totalling a yearly regasification capacity of 485 TWh. Among Fluxys’ subsidiaries is Euronext listed Fluxys Belgium, owner and operator of the infrastructure for gas transmission & storage and liquefied natural gas terminalling in Belgium.

As a purpose-led company, Fluxys together with its stakeholders contributes to a better society by shaping a bright energy future. Building on the unique assets of its infrastructure and its commercial and technical expertise, Fluxys is committed to transporting hydrogen, biomethane or any other carbon-neutral energy carrier as well as CO₂, accommodating the capture, usage and storage of the latter.