Molgas, a Spanish company, has acquired Titan LNG Bunker Supplier.
The company announced on Tuesday that Spain's Molgas had acquired the Dutch liquefied gas bunker supplier Titan after acquiring a 45% share in 2023.
The demand for LNG bunkering has increased in recent years, with the introduction hundreds of ships which can run on this fuel. This is in response to the shipping industry's efforts to decarbonise the industry by 2050.
The company announced that Molgas, which is backed by the French private equity firm InfraVia will combine its LNG bunkering in Europe and Norway with Titan's truck-to ship LNG supply.
Molgas has now acquired a fleet consisting of seven LNG bunker ships, the company said.
Titan is one of the largest independent LNG bunker providers in a market that is dominated by Shell. Reporting by Enes Tunagur Editing by Mark Potter
(source: Reuters)
