AsiaEuropeGasOperations
NYK buys out Total’s share in LNG shipmanagment venture
Nippon Yusen Kaisha (NYK) has bought out the French LNG shipmanagement joint venture it has with energy major Total.
Based in Marseille, and responsible for the management of six LNG carriers, Gazocean is now a wholly owned subsidiary of NYK.
Before the purchase, NYK held 20% of Gazocean shares and Total held 80%. No price has been revealed for the transaction.
So, bussines concentrates in fewer and fewer hands. Not good!