TotalEnergies expanding in Mozambique
Published by Callum O'Reilly,
TotalEnergies is expanding in Mozambique with the acquisition of BP’s retail network, wholesale fuel business and logistics assets.
The transaction covers a network of 26 service stations, a portfolio of business customers and 50% in SAMCOL, the logistics company previously jointly owned by TotalEnergies and BP, which operates the Matola, Beira and Nacala fuel import terminals.
These assets are complementary to TotalEnergies’ existing network of 57 service stations and current B2B business. With this acquisition, TotalEnergies strengthens its position as a leading retailer of petroleum products in the country.
Patrick Pouyanné, Chairman and CEO of TotalEnergies, said: "This agreement reflects TotalEnergies' willingness to pursue its investments in Mozambique’s energy sector in order to deploy our multi-energy strategy in the country through retailing of petroleum products for mobility, the major Mozambique LNG project and accompanying supply of domestic gas, and opportunities under review in the area of renewable energies. Our ambition with all this is to contribute to the country's sustainable development and give access to energy to as many people as possible."
Read the article online at: https://www.hydrocarbonengineering.com/refining/01022022/totalenergies-expanding-in-mozambique/
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