Sojitz Corporation acquired full ownership of First State Regasificadora, securing a 15 percent stake in the Spanish LNG terminal and transmission system operator, Reganosa.
Subsequently, Sojitz changed the company’s name to Sojitz Regasificadora, the company said on Monday.
Through Sojitz Regasificadora’s 15 percent stake in Reganosa, whose assets include the LNG terminal located in Mugardos, in the northwest of Spain, Sojitz became the first Japanese trading company to enter into the LNG terminal business in Europe.
Reganosa commenced operations at the Mugardos LNG Terminal in 2007.
LNG delivered to the Mugardos LNG terminal is not only supplied to the domestic market in Spain but also reloaded and delivered to Asia as well as other parts of the world, Sojitz said.
Reganosa also has plans to use the terminal as an LNG bunkering station for ships using LNG as marine fuel.