The French energy giant Total have acquired Lampiris. The petrol and oil company has thus taken over the third largest supplier of electricity and natural gas in Belgium. At the time of publication, the financial details pertaining to the agreement have not been disclosed.
Total is one of the six largest oil companies in the world and the biggest French company in terms of turnover. In Europe meanwhile, Total is ranked the 5th largest company in the EU and ranks 4th of all the listed companies in the euro area.
The acquisition of Lampiris allows Total to not only continue its development of natural gas, but also to enhance its credentials in renewable energy, as the Belgian company specializes in the supply of “green” electricity.
Both companies have sought to assure the markets that this acquisition will not affect any of their clients. The Belgian company is known to offer very competitive rates and also sells a large range of energy services.
Total’s push towards renewable energies is not surprising, as fossil fuels are increasingly being discredited in the modern world. Although Lampiris is not a major player in the sector on the European market, it is hard to imagine that the French oil giant’s acquisitions in the sector will stop there.