Vitol’s Unit ViGo Acquires PitPoint.LNG

Vitol’s Unit ViGo Acquires PitPoint.LNG

Vitol’s subsidiary ViGo Bioenergy has acquired PitPoint.LNG, the Dutch joint venture between TotalEnergies and SHV Energy.

Oaklins, who acted as the exclusive M&A sell-side advisor to TotalEnergies and SHV, revealed the deal in a statement on Thursday.

The company did not provide further details regarding the acquisition.

With this deal, Germany’s ViGo expands its international station network for alternative fuels and strengthens its European LNG and bio-LNG position.

According to its website, PitPoint.LNG currently operates 12 heavy-duty LNG stations in the Netherlands, Belgium, and Germany, and one bunkering station for inland waterway vessels in Cologne, Germany.

On the other hand, ViGo recently launched a bio-LNG station for vehicles in Germany’s Braunschweig and now has 28 stations in operation with more planned.

Back in 2021, energy trader Vitol bought Berlin-based LNG firm Liquind, now renamed ViGo Bioenergy.

Germany hosts the largest number of LNG fueling stations for trucks.

Recent data by Gmobility, previously known as NGVA Europe, showed that Germany had 185 LNG filing stations, while Italy had 146 such stations.

Last year, European network of LNG fueling stations for vehicles reached 700 stations due to a growing demand for LNG and bio-LNG in the transport sector.

By: LNG Prime Staff, March 8, 2024