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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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Sojitz buys stake in LNG terminal owner with bunker plans, Reganosa

Japanese firm acquires 15 percent shareholding in operator of Mugardos LNG facility.

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Updated on 31 Oct 2017 08:14 GMT

Japan's Sojitz Corporation has acquired full ownership of First State Regasificadora S.L.U. (FSR), owner of a 15 percent stake in Regasificadora del Noroeste S.A. (Reganosa), making Sojitz the first Japanese trading company to hold a stake in a European LNG terminal business.

Reganosa commenced operations at the Mugardos LNG terminal in 2007. LNG delivered to the facility is supplied to the Spanish domestic market and also reloaded and delivered to Asia as well as other parts of the world.

Reganosa also has plans to use the Mugardos terminal as an LNG bunkering station for ships using LNG as marine fuel. In August, Bunker Index reported that Reganosa was collaborating with the Port Authority of Ferrol-San Cibrao and other partners in north-west Spain to develop an LNG bunkering infrastructure at the Galician port of Ferrol.

On November 9, the AIDAprima - the world's first cruise ship to operate on LNG whilst in port - is due to call at Ferrol. Since entering into service in 2016, the vessel has made regular visits to Hamburg, Southampton, Le Havre and Zeebrugge, and has been able to refuel with LNG at all these locations.

Last year, Reganosa was also eyeing the supply of LNG as a marine fuel to the region's fishing fleet.

"We are working hard to develop bunkering operations. One possible market is Galicia's fishing fleet with over 4,000 boats, some small, but all kinds of sizes," Carlos Vales, Reganosa's Production Manager, was quoted as saying.

Reganosa was also looking at the feasibility of operating a 10,000-cubic-metre-capacity LNG bunkering vessel capable of performing ship-to-ship refuelling - as Mugardos is strategically situated on the Finisterre shipping corridor, which is used annually by more than 40,000 ships.

Sojitz has been involved in the LNG business since the 1970s; over the years it has gained experience in LNG liquefaction & marketing activities, LNG trading and LNG import activities into Japan, with notable investments in Indonesia and Qatar.

"Sojitz will contribute its LNG expertise and other businesses experience gained through a wide range of general trading operations, to support the further development of the Mugardos LNG Terminal," the new Reganosa stakeholder said.

"Sojitz will continue to develop its global LNG business with a focus on LNG receiving and liquefaction terminals, and will look at expanding its LNG receiving terminal business into ASEAN and other countries in South Asia, and to also develop its LNG liquefaction business to help create a stable energy supply for Japan, the world's largest importer of LNG," the company added.

Related Links:

Spanish Atlantic port Ferrol aims to develop LNG bunkering infrastructure
Spanish fishing fleet eyed as market for marine LNG

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