Molgas Acquires Titan LNG Bunker Supplies

Spain’s Molgas has fully acquired Dutch liquefied natural gas bunker supplier Titan, following its acquisition of a 45% stake in 2023, the company said on Tuesday.

LNG bunkering demand has been rising in recent years with the introduction of hundreds of ships that can run on the fuel, as the shipping industry ramps up efforts to decarbonise by 2050 in line with International Maritime Organization targets.

Molgas, backed by French private equity firm InfraVia, will merge its truck-to-ship LNG supply in Norway and Europe with Titan’s LNG bunker supply, the company said.

With the acquisition, Molgas now operates a fleet of seven LNG bunker vessels, it added.

Titan is among the biggest independent LNG bunker suppliers in a market dominated by Shell.

(Reuters)