Moeve & Galp Explore Major Iberian Downstream Merger | Mariner News

Spanish energy giant Moeve and Portugal’s Galp are currently exploring a significant downstream portfolios merger across the Iberian Peninsula. This strategic move aims to combine key assets, potentially creating two distinct energy entities focusing on industrial operations and a vast retail and mobility network. The discussions highlight a clear intent to adapt and lead in the evolving energy landscape, emphasizing sustainable growth and low-carbon solutions for the region.

Forging Iberian Energy Leaders

The proposed industrial business would encompass refining, chemicals, trading, and the development of advanced low-carbon fuels, including biofuels and hydrogen. This segment is designed to primarily serve industrial clientele, transforming existing sites into integrated multi-energy hubs. Moeve’s shareholders would maintain control of this pivotal industrial platform, driving innovation in cleaner energy production.

Expanding Retail and Mobility Services

Simultaneously, a robust retail and mobility business is envisioned, integrating both companies’ extensive fuel station networks into a pan-Iberian giant of approximately 3,500 sites. This platform would also focus on next-generation services like EV charging and convenience, catering directly to consumers. The retail platform would be jointly controlled with Galp, ensuring a shared vision for consumer-focused energy solutions and an enhanced customer experience.