Energy firms Moeve and Galp are to explore combining downstream activities in the Iberian peninsula in a bid to become a bigger force in European energy and mobility.
The tie-up would create a scalable industrial platform that integrates refining, trading, chemicals, green molecules (biofuels and hydrogen) and retail service stations across Spain and Portugal.
Moeve’s current shareholders, Abu Dhabi sovereign wealth fund Mubadala and global investment firm Carlyle, would hold a controlling interest in the industrial combination, with Galp holding above 20%.
The plan is to develop ‘integrated multi-energy hubs’ which would support the development and deployment of low-carbon fuels and technologies and support decarbonisation in hard-to-abate sectors.
… to continue reading this article and more, please login, register for free, or consider subscribing to gasworld
You’ve reached your weekly limit to access free articles!
Want to keep reading?
Please register for free and create a profile to gain access to this full article and gasworld’s daily news.
For access to more content including our monthly digital magazines, subscriber-only features or columns and all our other gasworld archives, please consider subscribing.
Alternatively, you can continue reading more articles as a guest on Thursday, 15th January at 10:28AM
