Avenir LNG Limited (NOTC:AVENIR) announced on Tuesday (Mar29) that it has acquired the shareholdings of its minority partners in HIGAS Srl (“Higas”), thus becoming the sole owner of the company. The minority partners were CPL Concordia from Concordia sulla Secchia, and Gas and Heat SpA from Livorno.
Higas owns and operates an LNG storage and receiving terminal in the Port of Oristano in Sardinia. The Higas terminal was the first dedicated small scale LNG depot in the Mediterranean and via the adjacent deep draft jetty, is the first terminal enabling direct LNG imports into Sardinia. Utilising the terminal’s LNG truck loading bays, Higas distributes LNG via roadtanker both directly to industrial users converting to cleaner and cheaper fuels, and to gas distributions companies across the island.
Commenting on the agreement, Peter Mackey, CEO of Avenir LNG Limited, said: "We are delighted to have signed this agreement to acquire the minority shareholders’ interests in Higas, thereby concluding the joint venture which delivered the construction of the first LNG import infrastructure in Sardinia. This is another important step in executing our investment strategy. In addition to continuing to be a trusted and competitive LNG supplier to our customers in Sardinia, Higas will continue to promote and enhance the long-term environmental sustainability of Sardinia and Italy, and to take an increasingly prominent role in these important energy markets”.
Avenir LNG is a global energy company, who collaborates to unlock new markets for natural gas and supplies small-scale LNG for off-grid industry, power generation and transport industry.