Okra Energy acquires Peru’s LNG transportation firm Cryogas
Okra Energy (USA) has acquired Peru-based liquefied natural gas (LNG) transportation and storage company Cryogas in order to achieve off-grid energy delivery in the country.
The financial terms of the deal were not disclosed.
Cryogas is also engaged in the installation of satellite regasification plants, which allow the delivery of natural gas energy to industries and consumers without access to pipeline infrastructure by warming LNG back to its gaseous state.
Operating as a subsidiary of Okra Energy, Cryogas will be responsible for handling all facets of LNG distribution, logistics and equipment maintenance in Peru.
Okra Energy CEO Louis Ravenet said: “The purchase of Cryogas is key to our vertical solution for localised, off-grid energy delivery.
“Acquiring Cryogas ensures that Okra Energy can safely and efficiently transport and regasify LNG throughout Peru.”
Okra noted that the acquisition will strengthen its position as an LNG provider in the country, and throughout the greater South American region.
Cryogas’ Chilean affiliate Gas-Stream was recently bought by French independent electricity generator Engie.
Okra Energy (USA) develops and delivers energy through the sale of LNG globally, providing liquefaction solutions to customers across different sectors, including industrial manufacturers, power generators, in addition to domestic and virtual pipelines.
In November last year, Okra Energy formed Lantera Energy in Peru as its representative in South America.
Okra Energy and Lantera Energy declared their partnership with an undisclosed Latin American natural gas entity to supply LNG to a Peru-based steel and iron producer.