Svanehøj has announced the establishment of Svanehøj France – a new independent business for production, sales and service of land-based LNG tank gauging systems and hydraulic LPG safety valve systems.
Global LNG supply could reach 449 million t by 2025, up 23% from 2020, and this will indeed increase the need for liquefied gas storage in the coming years.
Svanehøj sees great potential in this market and therefore entered into an agreement to take over Wärtsilä Tank Control Systems (TCS). The company is engaged in the production, sale, and service of high-end gauging systems for both LNG plants and terminals, as well as LNG carriers.
The acquisition has just been approved by the French authorities. As a result, Svanehøj is establishing a new independent business unit for land-based activities in Calais, France, where TCS currently has a production facility.
The new company will be named Svanehøj France, and Morten Christian Larsen will take the position as Director of almost 40 employees. He is already Director of Service and Aftersales at Svanehøj and will manage the two businesses in parallel.
“We are acquiring a company that has historically been at the forefront of systems that enhance the safety of liquified gas storage. Svanehøj is already a leading specialist in marine fuel and cargo pumps for liquefied gas, and we see obvious synergies in relation to both new sales, service and aftersales, which we will use to good advantage,” said Morten Christian Larsen.
TCS has been owned by Wärtsilä since 2006, but has its roots in Whessoe, a specialist in equipment and systems for cryogenic and low-temperature storage. With the prospect of significantly increased demand for liquefied gas, Svanehøj plans to invest in the product line at the Calais factory, which is particularly well known in the industry for its unique turnkey tank gauging solutions. Furthermore, Svanehøj sees great potential in using the acquisition as an opportunity to offer pumping solutions for LNG terminals on land.
Svanehøj pursues an overall strategy to support a fast and complete transition to zero-carbon maritime fuels, regardless of propellant. Svanehøj's deepwell fuel pump solution is fully compatible with e-fuels such as green ammonia, methanol and hydrogen. A focus area in the new Svanehøj France will therefore be to develop gauging systems for zero carbon fuels for both marine and land-based applications.
“The market for high-end liquefied gas handling equipment is facing strong growth in the coming years. This applies to both natural gas and e-fuels. The establishment of a land-based business is a further step for Svanehøj into this market”, said Søren Kringelholt Nielsen, CEO at Svanehøj.
In addition to the land-based business in Calais, Svanehøj has also acquired a maritime business with production, sales, and service of measuring systems for LNG vessels. This part of TCS has activities in the UK and Singapore and employs 15 people, who will now become part of Svanehøj's global service business.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/03022022/svanehj-establishes-new-french-company/