Sojitz Corporation (“Sojitz”) announced the acquisition of 15% stake in Regasificadora del Noroeste S.A. (“Reganosa”), including the LNG terminal located in Mugardos, northwest of Spain, which will be used as an LNG bunkering station.
Sojitz’s acquisition of 15% stake in ‘Reganosa’ is part of the company’s recent full ownership of First State Regasificadora S.L.U. (FSR), which resulted in Sojitz changing its name to Sojitz Regasificadora S.L.U. (SR).
‘Reganosa’ is using the Mugardos LNG terminal since 2007. According to Sojitz, the LNG from the Mugardos LNG terminal is supplied not only to the Spanish domestic market, but it is being reloaded and delivered to Asia and other parts of the world, as well.
“Sojitz will contribute its LNG expertise and other businesses experience gained through a wide range of general trading operations, to support the further development of the Mugardos LNG Terminal. The company 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 world’s largest importer of LNG.” the company said.
