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  • VTTI to acquire 50% of Dragon LNG in the United Kingdom from Ancala
    édité le 10/05/2024 - Plus de news de "VTTI" - Voir la fiche entreprise de "VTTI"


VTTI to acquire 50% of Dragon LNG in the United Kingdom from Ancala
VTTI, a global leader in energy storage and developer of energy infrastructure has entered into an agreement with leading infrastructure manager, Ancala, to acquire its shareholding totalling 50% of Dragon LNG Group Limited (also known as Dragon LNG), the owner of a major onshore import terminal for the supply of liquefied natural gas (LNG) to the United Kingdom (UK) market.

Dragon LNG’s regasification terminal is one of the three LNG terminals in the UK. It is located near Milford Haven in Wales, and consists of LNG receiving, storage, reliquefication, regasification and send-out facilities. The facility can achieve maximum gas send out to the UK national transmission system of up to 9 billion cubic metres, supplying approximately 10 percent of the UK’s annual gas demand.

Dragon Energy Limited, a fully owned subsidiary of Dragon LNG Group Limited, has also developed a solar farm at the facility and is developing additional renewable power projects at the site in support of decarbonising scope 2 emissions at the LNG terminal.

‘’As part of VTTI’s Strategy 2028, we are committed to expanding and enhancing LNG regasification infrastructure globally. Our aim is that half of our portfolio will be in transitional and sustainable energy sources by 2028. Following the recent agreement in Italy to acquire a 70% equity stake in Adriatic LNG in Italy and the ongoing development of a new LNG import facility in Vlissingen in the Netherlands, this acquisition reflects our commitment to diversify into LNG as a transitional energy source. We are looking forward to partner with Shell to ensure that Dragon LNG continues to operate in a safe and reliable manner while accelerating its decarbonisation and growth path.’’ – says Guy Moeyens, CEO of VTTI.

VTTI has a long-term strategic view on the terminal, furthering the opportunities for decarbonisation of the regasification process and continuing to provide safe and secure, long-term access to the UK gas market.

Dragon LNG is currently owned by Shell 50% and Ancala 50%.

The transaction is subject to customary conditions and is expected to close in Q3 2024.

VTTI was advised by KPMG (M&A, financial and tax) and Ashurst (legal).

About VTTI

For over 18 years, VTTI has been a global leader in independent energy storage and now develops critical energy infrastructure needed to move towards a carbon neutral future. Fueled by its purpose, ‘Energy to Move Tomorrow,’ the company safely provides and expands access to essential energy, including fuels, chemicals, gasses, and other energy derived products and accelerates the transition to sustainable sources for customers and partners. Please visit www.vtti.com for more information.

VTTI’s headquarter is in Rotterdam, the Netherlands, and the company is owned by Vitol, IFM Investors and ADNOC.

About Ancala

Ancala is a leading independent infrastructure manager that delivers infrastructure investment differently. We take a unique entrepreneurial and collaborative approach to consistently deliver results for our investors, the companies in which we invest and other stakeholders.


Origine : Communiqué VTTI

Voir la fiche entreprise de "VTTI"



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