Total has announced that it will acquire PitPoint B.V., Europe’s third-largest provider of natural gas vehicle fuel.
PitPoint B.V. has a network of approximately 100 natural gas fuelling stations. The company is also involved in biogas, hydrogen and electric vehicle charging points for road and maritime transport.
The acquisition will enable Total to significantly increase its presence in the natural gas vehicle fuel sector, in particular to serve trucking and professional transport companies, and implement its plans to establish a network of 350 natural gas vehicle fuelling stations in Europe by 2022.
Patrick Pouyanné, Chairman and Chief Executive Officer of Total, said: “Following the acquisition of Lampiris in 2016, this acquisition is part of Total’s strategy to expand its low-carbon businesses, notably through the development of natural gas in which the Group is a global leader. Unlocking gas demand with new usages for transport is central to our integrated strategy of expanding along the natural gas value chain […] There is strong development potential for natural gas vehicle fuel in the transport sector. Our aim is to combine PitPoint’s technological and commercial expertise acquired over the last ten years with Total’s strong retail marketing network and client portfolio. PitPoint will thus be central to the Marketing & Services segment’s ambitions in the natural gas vehicle fuel sector in Europe, in line with the aim of offering our customers clean energy solutions.”
The transaction will not affect PitPoint B.V.’s customers and employees. The terms and conditions of their contracts will remain unchanged.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/08052017/total-to-acquire-pitpoint/