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LNG for vehicles from ELINOIL and Blue Grid 22/03/2021 ELINOIL

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Penny Stocks 2.0 Member Level  Monday, 03/29/21 09:15:00 PM
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LNG for vehicles from ELINOIL and Blue Grid

22/03/2021

ELINOIL is expanding in the market of supply of vehicles with LNG (liquefied natural gas) in the context of the implementation of its strategic planning for its energy evolution. As he announced, he set up a joint company with Blue Grid, the Greek company that stars in the Downstream LNG market in SE Europe.

The new company, BlueFuel, in which the two companies will participate with an equal percentage, will aim at the development, for the first time in Greece, of refueling points for vehicles with liquefied natural gas. According to a relevant announcement, ELINOIL will offer the most competitive and green fuel to Greek drivers and will occupy a strategic part of this rapidly growing international market.

Through this joint venture, BlueFuel will combine the expertise of Blue Grid in the supply and distribution of LNG with the experience, the geographical presence through the network of gas stations "ELIN" and the organizational strength of ELINOIL, seeking to become a leader in the supply of vehicles with liquefied natural gas nationwide.

BlueFuel will focus primarily on servicing heavy vehicles, mainly at key points in the domestic market. Based on the plans and current conditions, it is estimated that BlueFuel will be able to start LNG refueling within the first quarter of 2022. It is particularly important that from the very first day of operation, BlueFuel refueling stations, in from the network of gas stations "elin", will offer their customers nationwide LNG coverage. With its entry into the new LNG market, ELINOIL confirms its determination to develop into an energy group that will meet the modern needs of the consumer.

Accordingly, Blue Grid through this partnership implements its strategic plan to supply LNG to an even wider range of customers beyond those in the industry. Blue Grid was founded in 2017 and is active in the trading of LNG and clean fuels in the markets of Greece, SE Europe and SE Mediterranean. It is the first company exclusively dedicated to the supply of clean fuels, and in this context has already developed the first integrated LNG supply chain in the region. Priority for the company are the sectors of industry, shipping and transport. Supply of vehicles with LNG by ELINOIL and Blue Grid

https://www.elin.gr/press-releases-2021/



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