07/30/98
REPSOL INITIATES DISTRIBUTION OF BUTANE IN MOROCCO
 

Repsol has acquired NATIONAL GAZ, a Moroccan company which distributes butane gas. NATIONAL GAZ carries out its distribution in the northeastern region of Morocco (mainly in Oujda, Nador and Fez) and has a 30% market share in this area. The company�s turnover in 1997 was more than 1 billion pesetas.

This operation is the first step in Repsol�s medium term plans to enter the butane gas market in Morocco, which has grown at a very high rate during the last few years (8% per year).

At present, Repsol continues to hold conversations with other Moroccan companies which distribute butane in order to increase the share in this market, in line with the plans for development foreseen for this activity in the mentioned country.

With this acquisition, Repsol�s presence in butane and propane distribution is already extended to six foreign countries: Portugal, France, Argentina, Peru, Ecuador and Morocco.

    Repsol is the leading company in the European Union in sales of bottled LPG, filling more than 140 million bottles a year.