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Irish energy firm wins big gas contract

Wednesday, December 12 14:46:33

Irish energy company Vayu has signed an exclusive, multimillion euro, two-year Regional Natural Gas supply contract with FMC Corporation.

It will see Vayu supply the gas requirements for the pharmacy giant in both the UK and Ireland.

The deal, which is a first for the Irish energy market, was won by Vayu's New York office, which was set up specifically to work with US companies operating in the EU.

"This win clearly demonstrates why deregulation of the Irish energy market has been so fundamental to the health of the Irish economy. It's simple- increased competition translates into a higher level of transparency and service for every consumer. It also shows the potential for Vayu to develop sales throughout other European markets. Given Ireland's status as a hub for head offices of American companies based in Europe, this is something we are very excited about," said Joe DiGiovanni, Vayu's New York-based Vice President of US Business Development.

Vayu's New York and Dublin offices will closely work with FMC Corp's headquarters in Philadelphia and its facilities in the ROI/UK- ensuring that corporate sustainability initiatives are on track and the potential to reduce costs are continuously being investigated.

Vayu is Ireland's largest independent supplier of large industrial gas users. The company which serves the electricity and gas markets has been in operation since 2003 and now includes companies such as Tesco, Bulmers, the DAA, IBM, and DHL among its growing client base. International commodity group Glencore is the largest shareholder in the business.