Redexis, an integrated energy infrastructure company dedicated to the distribution and marketing of liquefied petroleum gas, among other activities, and Cepsa have agreed the transaction of 11,366 piped propane supply points. Three years ago, Redexis also bought 4,700 piped propane supply points from Cepsa.
For Redexis, this sale strengthens its position as the second largest operator of piped propane nationwide with over 95,000 customers. Redexis also continues to focus on its growth strategy in this market, where it has already invested around €200 million in the last four years. Through this transaction, the company will add piped propane customers in 42 municipalities where it already operates and in another 295 new municipalities near its areas of operation, significantly increasing its geographical footprint. The company now operates in 11 new provinces and in the region of Navarra.
Cepsa is focused on marketing butane and propane, packed and bulk, which has led the company to divest in piped propane assets since late 2015 through successive sales.
The sale is now awaiting the necessary permits from the National Commission on Markets and Competition (CNMC) and the competent provincial authorities.
This new transaction reinforces the relationship maintained by Cepsa and Redexis, whose aim is to create the largest network of gas refueling stations for vehicular natural gas (VNG) in Spain. Both companies are firmly committed to giving Spain a nationwide network of natural gas refueling infrastructure for both light and heavy vehicles; a network that is easy to access and with refueling times similar to traditional hydrocarbon pumps, all with the objective of expanding the supply of energy solutions and foster sustainable mobility.
Redexis increases its growth in this activity
Redexis increases its growth in this activity focusing on the development of solutions in areas where natural gas is not available. In this way, the piped propane gas allows to improve the quality of life of citizens, since its use generates significant savings in the energy bill and is the most suitable technology to meet the energy welfare needs of homes and businesses in municipalities with low population density or far from large urban areas. In homes and businesses, piped propane improves the quality of life through its comfort, safety, cleanliness and continuous supply. In addition, it is a clean and environmentally friendly energy source.