Dutch green energy provider PitPoint Clean Fuels and gas supplier Primagaz Netherlands BV have signed an agreement whereby Primagaz will acquire 50% of the shares of PitPoint LNG. The thus-formed joint venture will focus entirely on the use of Liquefied Natural Gas (LNG) for the transportation and marine markets.
The joint venture will initially operate in the market under the name PitPoint LNG and aims in the short term to build five LNG truck stations in the UK and two bunker stations for the inland shipping sector. In the medium term the aim is to develop at least 10 truck refuelling stations together.
The contribution of PitPoint will mainly focus on the construction, maintenance and operation of the LNG stations. Primagaz GB will contribute expertise with regard to sourcing, handling and distribution of LNG.
“LNG is a reliable, silent and cleaner fuel and we believe therefore strongly in the growth of this fuel for the heavy transport sector. The LNG market now, perhaps more than ever, needs a long term vision that ensures the development of infrastructure. The compatibility of our two organizations ensures that PitPoint LNG is well positioned to play an important role in this market,” say Martin Bijl, CEO of Primagaz Benelux and Erik Kemink, CEO of PitPoint.
The joint venture was notified to the European Commission and the two companies expect to finalize the short-term approval process positively.
(Source: PitPoint Clean Fuels)