Gaz’up buyouts Naturgy’s GNV station network in France

The deal concerns the purchase of Mobiligaz, Naturgy's subsidiary dedicated to NGV stations, with four locations already active and two future sites under development.

Gaz'up, a specialist in multi-energy stations for professionals in France, announced the buyout of all Naturgy’s natural gas vehicle (NGV) filling stations in France. The agreement involves four locations already active, and two future sites that are currently under development.

The buyout concerns the purchase of Mobiligaz, Naturgy's subsidiary dedicated to NGV stations. As part of this full asset sale, Gaz'up will take over Naturgy's NGV activities and projects in France.

The stations formerly operated under the Naturgy brand that are now becoming part of Gaz’up are located in Castets, Bordeaux Lac, Poitiers, and Caen. The two future stations under construction will open its door in Craywick and La Veuve by the end of 2021.

This acquisition will enable Gaz'up to rapidly expand its filling station network nationwide. By the end of 2021, the operator will have 15 stations in operation in France. A dozen additional locations, to be announced at the end of September, are planned for 2022, according to Gaz-Mobilité.fr.

For Gaz'up, the takeover also enabled the launch of a new investment structure. Called Gaz'up Invest, it will complete the cooperative scheme undertaken with carriers with the aim of facilitating future investments.