The Dutch company has a network of approximately 100 natural gas fuelling stations, and is also involved in biogas, hydrogen and electric vehicle charging points for both road and maritime transport. It has experienced strong growth in several European countries, including the Netherlands, Germany and Belgium.
The acquisition will allow the group to grow its presence in the natural gas vehicle fuel sector, particularly in serving trucking and professional transport companies. It will also help Total to implement its plans to establish a network of 350 natural gas vehicle fuelling stations in Europe by 2022.
Patrick Pouyanné, Chairman and Chief Executive Officer of Total, said: “Following the acquisition of Lampiris in 2016, this acquisition is part of Total’s strategy to expand its low-carbon businesses, notably through the development of natural gas in which the Group is a global leader. Unlocking gas demand with new usages for transport is central to our integrated strategy of expanding along the natural gas value chain.
“There is strong development potential for natural gas vehicle fuel in the transport sector. Our aim is to combine PitPoint’s technological and commercial expertise acquired over the last 10 years with Total’s strong retail marketing network and client portfolio. PitPoint will thus be central to the Marketing & Services segment’s ambitions in the natural gas vehicle fuel sector in Europe, in line with the aim of offering our customers clean energy solutions.”
PitPoint B.V.’s customers and employees will not be affected by the transaction, and the terms and conditions of their contracts will remain the same.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/04052017/total-to-acquire-natural-gas-vehicle-fuel-provider/