The Colombian distributor and energy marketer Terpel has announced the sale of its subsidiary Combustibles Ecológicos Mexicanos S.A. (Gazel Mexico) for US$ 26.6 million to Mexican firm Prana Gas, representing an opportunity for Gazel’s market expansion. The company will also strengthen its support for the growing NGV industry, maintaining its positioning, distribution network and at least 40% of the total Mexican market.
According to Luis Felipe Echavarría Escobar, general director of Combustibles Ecológicos Mexicanos, the sale to Prana Gas was because Terpel had focused its objectives towards other latitudes. “This allowed a buyer interested in this Mexican subsidiary to be the engine that will boost the market and make it grow in an exponential way, the ultimate goal of the sale is that the new shareholders can better position the company,” he said.
Gazel currently operates in the Metropolitan Area of the Valley of Mexico, Monterrey and Puebla, where it has eight refueling stations (out of a total of 26 in the country), with a 57% share in CNG sales throughout Mexico. The new alliance with Prana Gas will allow the expansion of its goals and the building of more than 50 stations in the country in the coming years. “We serve more than 7,500 customers every day, who obtain a 57% savings over gasoline in each kilometer traveled, and help with the reduction of up to 70% in the emission of pollutants,” said Echavarría Escobar.
“The company that will now take control of the shares, Prana Gas, has a lot of experience in energy issues and comes with the intention of investing to improve its service offer, which is cause for pride because one of our goals is maintaining the leadership and commitment to the development of the NGV industry in an orderly and respectful manner with the laws and the environment,” added the director.
This highly favorable scenario with a promising marketplace and venue for the natural gas sector will host Altfuels Mexico 2018 taking place on 23-26 April at the World Trade Center of Mexico City.