German hydrogen company TES may consider listing in two years

Join now for FREE unlimited access to

MILAN, Sept 7 (Reuters) – German hydrogen company Tree Energy Solutions (TES) could look to go public in a few years, buoyed by the success of the sale of LNG capacity as well as long-term contracts for hydrogen, chief executive Marco Alverà told Reuters. .

TES, backed by Belgian company AtlasInvest, recently announced that it will operate Germany’s fifth floating storage and regasification unit (FSRU) together with E.ON Green Gas (EONGn.DE) and Engie (ENGIE.PA) in Wilhelmshaven. Read more

In addition to the management of liquefied natural gas (LNG) infrastructures, TES offers new technologies using hydrogen to produce synthetic methane. Read more

Join now for FREE unlimited access to

A hydrogen supply network could boost Europe’s energy security at a time when the bloc seeks to reduce its dependence on Russian natural gas, but requires investment.

“We are working today to sell LNG capacity and, at the same time, to sell hydrogen to have long-term contracts and it is going very well,” said Alverà, who was previously the general manager. of the Italian gas network operator Snam (SRG .MI).

“In a few years, we could be looking at an IPO,” he said, adding that he sees North America as the most “interesting” market for an energy group to go public.

“It’s too early to talk about specifics but we are watching the United States with great interest,” he said.

On Wilhelmshaven, Alverà said the fifth FSRU would start operating by October or November 2023 to create a new entry point to supply gas to Germany, which until now has largely depended on transiting Russian gas flows. via the Nord Stream 1 gas pipeline.

Join now for FREE unlimited access to

Reporting by Francesca Landini, editing by Deepa Babington

Our standards: The Thomson Reuters Trust Principles.

James R. Rhodes