Global Energy Group Sells Port of Nigg and Other Assets to Mitsui & Co.

UK energy sector construction, maintenance & enhancement solutions player Global Energy Group (GEG) has finalized a deal with Japanese company Mitsui & Co. for the sale of its group companies, including The Port of Nigg, a multi-sector energy port and green freeport.

In addition to the Port of Nigg, GEG has also reached an agreement with Mitsui & Co. Europe and Mitsui O.S.K. Lines (MOL) to sell its multi-site fabrication and manufacturing business, Global Energy (Fabrication), and Global Energy Services, a provider of scaffold and access teams.

Under the terms of the acquisition, Mitsui will own 51% of the three companies, with MOL holding the remaining 49%. This strategic move aims to propel The Port of Nigg into the next phase of development as a critical infrastructure asset within the UK’s energy transition, supporting both the oil and gas and offshore wind industries.

Mitsui plans to invest further in the site, expanding manufacturing capacity and quayside infrastructure to meet the growing demand from various energy services sectors. This acquisition marks Mitsui’s first major investment in a Scottish port facility, while MOL aims to enhance the partnership with its expertise in offshore and renewable energy.

Following the divestment of the three business units, Global Energy Group will continue to offer services at The Port of Nigg through its supply chain companies. The Aberdeen-headquartered energy engineering company, Apollo, also remains part of the Global Energy Group portfolio.

Chairman of Global Energy Group, Roy MacGregor, expressed his pride in passing on the baton at The Port of Nigg and highlighted Mitsui as the right custodian for the facility’s future development. Makoto Takasugi, Chief Operating Officer of Iron & Steel Products Business Unit at Mitsui & Co., echoed this sentiment, expressing privilege in taking on the stewardship of The Port of Nigg and the associated energy services businesses.

The partnership between Global Energy Group and Mitsui & Co. signifies a significant step in the evolution of The Port of Nigg and its role in the energy industry. Both parties are poised to work together to meet the increasing demand for offshore wind power and contribute to energy transformation across Scotland, the UK, and Europe.