New York-based Okra Energy has acquired Cryogas, a Peruvian company specializing in the transportation and storage of liquefied natural gas (LNG), as well as the installation of satellite regasification plants.
As a unit of Okra Energy, Cryogas will administer all aspects of LNG distribution, logistics and equipment maintenance in Peru.
Okra Energy did not reveal the value of the deal.
“The purchase of Cryogas is key to our vertical solution for localized, off-grid energy delivery,” Louis Ravenet, Chief Executive of Okra Energy said in a statement.
“Acquiring Cryogas ensures that Okra Energy can safely and efficiently transport and regasify LNG throughout Peru,” said Ravenet. “I am especially excited to work with Rafael Francolino, who brings a proven track record of managing LNG operations.”
Cryogas’s Chilean affiliate Gas-Stream, also founded by Francolino, was recently acquired by the French energy giant and LNG player Engie.