On a European footprint expansion quest, Madrid-headquartered Asterion Industrial Partners, an investment management firm, has enlarged its energy portfolio with the acquisition of an interest in a liquefied natural gas (LNG) terminal, described as not only France’s largest LNG receiving and regasification facility, but also one of the biggest in continental Europe.
While disclosing the purchase of a 25% stake in FluxDune , Asterion highlighted that it indirectly acquired approximately a 15% stake in the Dunkerque LNG terminal in Dunkirk, France. With a capacity of 13 billion cubic meters (bcm) per annum, this LNG terminal is said to be the only one in Europe with a direct connection to two markets, as, aside from France, it also covers Belgium.
It is believed that this strategically positions the terminal, which has been in operation since January 2017, to address the energy security needs of continental Europe. Asterion claims that the French terminal is one of Europe’s most modern, featuring an innovative design, advanced technical capabilities, and a focus on minimizing CO2 emissions.
This investment, which increases the firm’s presence in France, leveraging its industrial approach, execution speed, and market insights, represents the fourth investment for Fund III and the formation of a new partnership with majority shareholder Fluxys , a top-tier European infrastructure group central to the asset’s achievements to date.
Jesús Olmos , Founding Partner and CEO of Asterion Industrial Partners, commented: “We are excited to partner with Fluxys and other shareholders on this critical infrastructure asset. We look forward to contributing our commercial and technical skillset to the Company’s long-term operational success story and prominence in the European energy landscape.”
According to the Spanish player, the terminal’s ESG strategy emphasizes the need to curb environmental impact, exemplified by its use of recycled warm water coming from a nearby nuclear plant for liquified natural gas regasification.
Asterion is adamant that the increasing demand for natural gas and the expansion of supply routes have led to a rapid growth in global LNG imports; thus, European terminals are perceived to be experiencing higher utilization rates, highlighting their strategic importance.
Since these LNG terminals offer Europe diversified and reliable access to international energy supplies, in Asterion’s view, this dynamic is interpreted to enhance Europe’s resilience against supply disruptions, supporting the transition to cleaner energy sources.
Pascal De Buck , Managing Director and CEO of Fluxys, remarked: “ Fluxys is proud of the progress achieved since becoming a core shareholder in the Dunkerque LNG terminal. We are delighted to welcome Asterion as a partner and are excited to work together to build upon this success, and further cement the terminal’s position as a key infrastructure in the future European energy landscape .”
Against the backdrop of the current geopolitical environment, the Spanish firm sees regasification hubs, such as Dunkerque LNG, as crucial for ensuring energy security.