TerniEnergia has signed an agreement with La Mercantile Srl La Spezia to acquire 85% of the share capital of New Gas Trade Srl (NGT), an Italian player in the natural gas and LNG market.
The only other shareholder of NGT is Intermonte SIM Holding.
The acquisition follows a recent announcement from TerniEnergia that it would look to promote external growth through acquisitions.
Stefano Neri, Chairman and CEO of TerniEnergia, said: "Through the acquisition of 85% of NGT, TerniEnergia wants to seize the goal of completing the offer for energy management, ensured by Free Energia, through the market access of dual fuel offer for industrial customers. This transaction enables an effective business tool for the customer loyalty (mostly cross-selling gas on the basis of customer energy) and will represent, at the same time, a development tool for new customers. In particular, TerniEnergia intends to leverage the ability to reach a customer base of over 25 000 [industry players] including direct and indirect customers, increasing the supply of energy products and guaranteeing a real saving on the ‘cost component’, also thanks to the energy efficiency offer by the Group. Through the partnership with Intermonte Holding SIM, within the corporate structure, we are confident to amplify the services with high added value in the supply system. In particular, we are going to integrate the opportunities offered by our shareholder partner in the desk management dedicated to financial instruments related to the gas and power sector, corresponding with the purchase characteristics of the main segments served".
NGT operates as a wholesaler in the natural gas sector. It has specific skills and in the energy sector, focused on the natural gas and LNG market.
NGT assists companies to implement LNG regasification plants and import of LNG cargoes, helping with contractual support, logistics activities, and direct access to Italian infrastructures.
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/regasification/23042015/ternienergia-enters-lng-market-634/