Elengy has acquired Total’s shares in Fosmax LNG, the company that owns the LNG terminal at Fos Cavaou, France. Elengy now owns 100% of its three LNG terminals.
Elengy has acquired Total’s shares in Fosmax LNG, the company that owns the LNG terminal at Fos Cavaou, France. Elengy now owns 100% of its three LNG terminals: Fos Cavaou, Fos Tonkin, and Montoir-de-Bretagne. Until now Fosmax LNG was owned 72.5% by Elengy and 27.5% by Total Gaz Electricité Holding France.
The acquisition of the shares was financed mainly by an increase in Elengy’s capital reserved for the Société d’Infrastructures Gazières (SIG). SIG now owns close to 18% of Elengy’s capital, with the balance held by GRTgaz.
Elengy described the acquisition as part of efforts to increase industrial development of its sites at Fos Cavaou and Fos Tonkin.
