The New Era of Green Fuel in the Mediterranean
In a groundbreaking move that is set to revolutionize the energy landscape of the Mediterranean and the Atlantic, the Portuguese energy leader Galp and the Spanish multinational Moeve have announced a preliminary agreement to merge their downstream operations. This merger aims to create two entities: IndustrialCo, focusing on refining and green molecules, and RetailCo, a pan-Iberian mobility platform. This agreement stands out for its potential to transform the fuel supply in the region, consolidating a crude processing capacity of approximately 700,000 barrels per day at three strategic coastal industrial sites.
For fuel suppliers and ship operators, this merger signifies a significant consolidation of the supply chain at the gateway to the Mediterranean. The combination of the Sines refinery in Portugal with the San Roque and La Rábida complexes in Spain establishes an integrated logistics network spanning the entire Iberian coast. This integration not only streamlines refinery logistics but also positions these assets for the development of green hydrogen and other low-carbon molecules.
Accelerating the Transition to Green Molecules
One of the key objectives of this merger is to scale up the production of next-generation marine fuels. The partnership between Galp and Moeve aims to combine low-carbon projects, such as the production of HVO/SAF and green hydrogen in Sines, with Moeve’s Valle de Hidrógeno Verde in Andalucía. The Andalusian project, already a reference in the industry, aims to achieve a 2 GW electrolysis capacity. This level is crucial to increase the availability of biofuels, green methanol, and ammonia, essential elements for the decarbonization goals of the maritime sector under the IMO 2030 and FuelEU Maritime regulations.
The adoption of these green fuels is not only a win for sustainability but also an opportunity for energy sector professionals to take part in leading this transition, presenting an attractive career prospect in a growing sector.
RetailCo: Dominating the Mobility Value Chain
While IndustrialCo focuses on “heavy” energy, RetailCo will concentrate on the consumer sector. This entity, jointly controlled by Galp and Moeve, will manage a vast network of around 3,500 service stations, with estimated sales of petroleum products exceeding 6.5 million tons by 2025. RetailCo establishes itself as one of the largest mobility operators in Europe, prioritizing electric vehicle charging infrastructure and convenience services. This approach reinforces the transition towards greener and more sustainable mobility solutions.
For investors and professionals in the mobility sector, this is a fertile field for new business opportunities and collaboration, playing a vital role in the evolution towards cleaner and more efficient transportation.
Galp: Focus on Collaborations and Sustainable Growth
Paula Amorim, president of Galp, emphasizes the value of collaborative growth: “I am extremely pleased that we have reached this preliminary agreement and initiated such an important strategic discussion. Galp’s growth vision has always been based on partnerships with highly credible operators who have proven to be valuable.”
With this merger, Galp aims to sharpen its focus on its high-growth Upstream portfolio, especially with world-class assets in Brazil and recent discoveries in Namibia, in addition to its renewables division. The partnership with Moeve enhances Galp’s ability to support and promote a fair energy transition. For sailors and professionals in the maritime sector, this merger represents increased stability in fuel supply and greater energy security, essential aspects for a sustainable future.
Moeve: Scaling Up for the Energy Transition
Maarten Wetselaar, CEO of Moeve, highlights the industrial and regional advantages: “This potential combination represents a unique opportunity to strengthen the role of the Iberian Peninsula in the energy transition, creating platforms with the scale, resilience, and investment capacity needed to drive change.”
Moeve’s transformation from a traditional oil refiner to a leading producer of “Green Molecules” in Europe is solidified with this merger, marking a decisive shift towards sustainability. Moeve focuses on disciplined investment, technological innovation, and long-term partnerships. This strategy not only ensures competitiveness and economic growth but also establishes the region as a reference in the energy transition, offering professionals in the sector the opportunity to be part of this historic transformation.
Market Outlook and Next Steps
The companies stress that operations will continue as usual during negotiations. A final binding agreement is expected by mid-2026, subject to regulatory and corporate approvals. For those in the maritime and renewable energy sectors, this agreement offers a hopeful glimpse into the future, not only for its impact on green fuel supply but also for the job and investment opportunities on the horizon.
We invite interested professionals to submit their resumes to Galp and Moeve, companies that will play a leading role in transforming the energy sector in the coming years.
