The unit of the Paris-based Air Liquide, Air Liquide E&C is on track to complete the merger with the Russian LNG technologies developer OMZ, following the European Commission’s approval.
According to a filing by the European Commission, the joint venture would focus on the provision of engineering and design services, as well as equipment relating to the natural gas liquefaction processes.
Following the notification revision, the EC decided not to oppose the merger and “to declare it compatible with the internal market.”
Air Liquide E&C is a producer of industrial gasses while OMZ, a company controlled by Gazprombank, engages in the development, production and implementation of air separation technologies and equipment, the supply of industrial gases, and development of solutions for refinement of associated gas, natural gas and LNG.
The EC received the notice of merger on May 19, however, no details have been revealed on the financial details of the merger or when the merger would be completed.
LNG World News Staff