Aurivos and Linden Energy enter JV to develop U.S., Europe energy value chain
Aurivos and Linden Energy have entered a JV with the objective of expanding their mutual interests in the supply of natural gas from the U.S. to Europe.
Aurivos’ Managing Partner, Humberto Sirvent said, “Aurivos has been growing American oil and gas production, and we look forward to working with Linden in order to expand our international presence. We continue to advance our plan involving Aurivos’ existing U.S. gas reserves and Linden’s LNG expertise, in order to help address established demand in the European gas market.”
Linden Energy is a Houston-based energy company with projects in the U.S., Europe, Asia and Africa. Linden is a 50% shareholder in Bulgaria’s largest private natural gas company, Overgas, and has a mandate to source natural gas from the U.S. for the Bulgarian and the larger European gas market.
As part of the JV, Aurivos and Linden will appoint one member to each other’s advisory boards with Humberto Sirvent representing Aurivos at Linden, and Linden’s Advisory Board Chairman Secretary Mike Pompeo representing Linden at Aurivos.
“As Europe continues its efforts to move away from Russian gas, the creation of a turn-key solution providing American gas to a company with American values and shareholders in Europe, is a great way to resolve the European gas crisis while also benefiting the U.S. economy,” said Secretary Pompeo.
Aurivos is operating oil and gas reserves throughout the Permian and the Rockies. Holding over 300,000 acres and operating more than 400 producing wells and active development programs in all its areas of operation sets Aurivos up for significant growth. Aurivos’ Managing Partner Martijn Dekker added, “As an American with deep roots in Europe, I am proud to be partnering with Linden to provide the necessary energy resources to Europe.”
President of Linden Energy Holding, Stephen Payne said, “I am excited to partner with Aurivos as this relationship is key to our objectives to bring U.S. gas to our European partners. Aurivos’ proven gas reserves alone could sole-source the entire Bulgarian gas demand for nine years.”
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