Japanese Sojitz Corporation has acquired Spanish First State Regasificadora (FSR), changing the company’s name to Sojitz Regasificadora (SR).
SR owns a 15% stake in Regasificadora del Noroeste (Reganosa), whose assets include the LNG terminal located in Mugardos in the northwest of Spain. With this move, Sojitz is making its entry into the LNG terminal business in Europe.
Reganosa commenced operations at the Mugardos LNG Terminal in 2007. LNG delivered to the Mugardos LNG Terminal is not only supplied to the domestic market in Spain but also reloaded and delivered to Asia as well as other parts of the world. Reganosa also has plans to use the terminal as an LNG bunkering station for ships using LNG as marine fuel, Sojitz explained.
“Sojitz will contribute its LNG expertise and other businesses experience … to support the further development of the Mugardos LNG Terminal,” the company said in a statement.
Involved in LNG business in Japan, Sojitz also has investments in Indonesia and Qatar.
“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 company added.