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EC Approves LNG Bunkering JV Between CMA CGM, TotalEnergies

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The European Commission on Friday said it has cleared the 50/50 liquified natural gas bunkering logistics services joint venture by French shipping and logistics company CMA CGM and energy major TotalEnergies (TTE).

Approving the JV under the EU Merger Regulation, the EC said the transaction was unlikely to raise any competition concerns due to its negligible activities in the European Economic Area and the "the companies' limited combined market positions resulting from the proposed transaction."

The JV was assessed under the EC's simplified merger review procedure.

The two companies entered into an agreement for the development and joint-operation of an LNG bunker supply solution at the port of Rotterdam, in the Netherlands, according to a statement issued by TotalEnergies last month.

The JV will provide LNG logistics services from access to gate terminal facilities to LNG bunkering for vessels operated by CMA CGM and other shipping companies in the Amsterdam-Rotterdam-Antwerp region, the statement added then.

Price: $90.75, Change: $-0.15, Percent Change: -0.17%

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