SHV Energy, via its Italian subsidiary Liquigas, has signed an agreement with SIGLI SpA (Società Italiana Gas Liquidi) to buy the LPG heating business unit of the SIGLI group.
The business unit, which is now managed by the Vulcangas brand, supplies approximately 19,000 tons of LPG annually to more than 24,000 residential and industrial customers based largely in central Italy, in particular the Umbria, Emilia-Romagna, Lazio, and Marche regions. The deal has undergone preliminary approval, including union conciliation, and will be effective October 1, 2022.
The acquisition supports SHV Energy’s expansion strategy in the Italian market and comes two years after Liquigas announced its 100% takeover of Friulanagas, a leading LPG company in northeast Italy.
LPG provides customers with a cleaner alternative than more highly polluting fuels such as coal and heating oil, resulting in reduced carbon dioxide and particulate matter emissions. Due to the anticipated synergies from the combined businesses, Liquigas expects to reduce its transport-related CO2 emissions by optimising its logistics.
“We are extremely satisfied with the agreement reached with SIGLI, a strong entrepreneurial company with a long LPG history in Italy. We are pleased to have the opportunity to enhance that heritage through this acquisition,” said Andrea Arzà, CEO of Liquigas. “This deal will help Liquigas to create maximum value for our customers and for the communities in which we operate.”
Giacomo Fabbri, CEO of Società Italiana Gas Liquidi, said: "The sale of the LPG heating business to Liquigas confirms the group's strategic focus on products in line with the ongoing energy transition. We are convinced that Liquigas will be able to capitalize on our history."
About Liquigas
Liquigas is the leading market player in Italy in the distribution of LPG (Liquefied Petroleum Gas) and LNG (Liquefied Natural Gas). Liquigas has more than 330,000 domestic and industrial customers and holds about 20 percent of the domestic market. The company operates in the territory through 22 plants and depots, about 50 sales offices, 18 subsidiaries, a widespread network of more than 5,000 LPG cylinder dealers, a fleet of 200 owned tankers, 1 owned rail terminal, and 2 sea terminals and one rail terminal in joint venture.
About Italian Gas Liquids Company-Vulcangas
Società Italiana Gas Liquidi-Vulcangas is a leading Italian operator in the distribution of LNG and BIO LNG for the automotive market and in services related to the world of sustainable transportation. Vulcangas supplies more than 200 fuel stations in Italy and Europe with traditional and environmentally friendly products.
SHV Energy and Ireland-based DCC Energy announced today that they will collaborate to promote the development of renewable liquid gas.
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SHV Energy is dedicated to minimising its impact on the environment, while providing energy access to as many customers and companies as possible.
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