Okra Energy acquires Cryogas LNG logistics, regasification company
Okra Energy has acquired Cryogas, a Peruvian company specializing in the transportation and storage of LNG, as well as the installation of satellite regasification plants. By warming LNG back to its gaseous state, satellite regasification plants enable the delivery of natural gas energy to industries and consumers without access to pipeline infrastructure.
As a subsidiary of Okra Energy, Cryogas will administer all aspects of LNG distribution, logistics and equipment maintenance in Peru. “The purchase of Cryogas is key to our vertical solution for localized, off-grid energy delivery,” said Louis Ravenet, CEO of Okra Energy.
“Acquiring Cryogas ensures that Okra Energy can safely and efficiently transport and regasify LNG throughout Peru,” said Ravenet. “I am especially excited to work with Rafael Francolino, who brings a proven track record of managing LNG operations. Acquiring Cryogas establishes Okra as a leading source of LNG in Peru, and throughout the greater South American region.”
Cryogas’s Chilean affiliate Gas-Stream, also founded by Francolino, was recently acquired by the world’s largest independent electricity generator, ENGIE.
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