Global Energy Group has announced the sale of three of its key subsidiaries – including the strategically vital Port of Nigg – to long-term partner Mitsui & Co. Europe and Mitsui O.S.K. Lines (MOL) in a landmark deal supporting the UK’s energy transition.
The acquisition includes the Port of Nigg, Global Energy (Fabrication) and Global Energy Services. Mitsui, a stakeholder in GEG since 2012, will hold 51% of the acquired businesses, with MOL owning the remaining 49%. This marks Mitsui’s first major investment in a Scottish port.
“We are hugely proud to be passing on the baton at the Port of Nigg,” said Roy MacGregor, chair of Global Energy Group. “Under Mitsui’s guidance, the port will continue to grow and develop, providing long-term, secure, skilled employment and driving Scotland’s energy transition.”
Mitsui has committed to further investment at the site, expanding manufacturing capacity and quayside infrastructure to meet growing demand from both offshore wind and traditional energy markets.
Makoto Takasugi, chief operating officer of Mitsui’s Iron & Steel Products Unit, commented: “We are privileged to take on stewardship of The Port of Nigg… building on strong foundations and supporting energy transformation across Scotland, the UK and Europe.”
MOL’s Masayuki Sugiyama added: “We’re committed to leveraging our maritime expertise to accelerate a more sustainable future for the Highlands and beyond.”
While the port changes hands, GEG (Holding) will retain the Global Energy Group brand and continue to provide project-based services at Nigg via its other companies, ensuring continuity for clients and local operations.
The deal cements the Port of Nigg’s position as a key asset in the UK’s low-carbon future.
