Asterion Industrial Partners has acquired a 25% stake in FluxDune, indirectly gaining approximately 15% ownership in the Dunkerque LNG terminal, France's largest LNG receiving and regasification facility.

Target Information

Emerton has successfully completed the Strategic and Commercial Vendor Due Diligence for Dunkerque LNG terminal. On September 17, 2025, Asterion Industrial Partners, an independent investment management firm specializing in European mid-market infrastructure investments, announced its acquisition of a 25% stake in FluxDune, which includes an indirect ownership of approximately 15% in Dunkerque LNG. This facility is recognized as France’s largest LNG receiving and regasification terminal and ranks among the biggest in continental Europe.

Dunkerque LNG boasts a remarkable capacity of 13 billion cubic meters (bcm) per annum and uniquely connects to both the French and Belgian markets. This strategic positioning is vital in fulfilling the energy security requirements of continental Europe. Since its operational launch in January 2017, the terminal is regarded as one of Europe’s most advanced facilities, showcasing innovative design and technical prowess while prioritizing the reduction of CO2 emissions. Its commitment to sustainability is evidenced by its distinctive ESG strategy, which includes utilizing recycled warm water from a nearby nuclear power plant for the regasification of liquefied natural gas.

Industry Overview

The LNG sector in France has experienced substantial growth, driven by increasing demand for cleaner energy sources and the country’s commitment to reducing greenhouse gas emissions. The French government has laid out clear strategies to enhance the role of LNG in th