Transport Stockage Hydrocarbures, the joint subsidiary of Ardian and EDF Invest, has completed the acquisition of a 26.7 percent stake in oil storage company Géosel from Basell Polyolefines, the multinational manufacturers of polyolefin (LyondellBasell group).
TSH already owned a majority stake in Géosel following the acquisition of a 50.1 percent stake in the company from Total in 2015. With this latest transaction, TSH now owns 76.7 percent of Geosel, alongside Petroineos Manufacturing France (19.9 percent) and Total (3.4 percent). The exiting shareholder, Basell Polyolefines France, will continue to use Géosel’s infrastructure for its own needs.
With a capacity of almost 9 million cubic meters, Géosel’s underground liquid hydrocarbon storage facility is one of the largest of its kind in Europe. It represents about 20 percent of France’s total hydrocarbon storage capacity and is primarily used to store around 40 percent of the country’s strategic reserv
