The natural gas industry in Europe plays a vital role in the energy sector, providing cleaner alternatives to traditional fossil fuels. Key players include multinational corporations, private equity firms, and venture capitalists who engage in exploration, production, and distribution of natural gas across various markets. Notably, the industry is evolving, with increased attention on renewable gas and lower emissions. As countries aim for energy independence and sustainability, investment in gas storage and infrastructure is rising. Europe’s natural gas landscape is set to shift towards more innovative technologies, energy transitions, and strategic partnerships, reflecting changing priorities within the sector.


This article spotlights notable investors in Europe’s natural gas market, showcasing a mix of corporate behemoths, private equity firms, and venture capital entities. These players, with headquarters spanning London, Paris, and Stockholm, range from small investment groups to industry giants, such as Shell and TotalEnergies. Founded between 1834 and 2008, these firms highlight a significant commitment to the sector. In 2024, collectively, they completed over 200 transactions, demonstrating robust interest and activity in natural gas investments as they navigate changing energy dynamics across the continent.


Top 12 Natural Gas Investors in Europe


1. Shell

  • Website: shell.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1907
  • Headcount: 10001+
  • Number of deals in 2024: 20
  • LinkedIn: shell

Shell plc is a multinational oil and gas company based in London, England, founded in 1907. It operates across the energy and chemicals sectors, providing essential products such as fuels, lubricants, and chemical solutions. Shell is heavily involved in the extraction, refining, and distribution of oil and gas, serving a diverse range of industries globally. Notably, Shell has made significant investments in the natural gas sector, including the acquisition of Arrow Energy, which focuses on coal bed methane assets in Australia. This acquisition, valued at A$3.5 billion, highlights Shell's strategic interest in natural gas resources. Additionally, Shell's subsidiary, Shell Upstream Albania BV, acquired oil assets from Petromanas Energy Inc., further demonstrating their active role in energy investments. While Shell is expanding into electric vehicle technologies and other renewable energy sources, their core operations and investments in natural gas solidify their position as a relevant player in this sector.


2. TotalEnergies


TotalEnergies is a corporate energy company based in France, founded in 1924, that focuses on producing and marketing a diverse range of energy solutions, including oil, gas, and renewable energy. The company is committed to addressing the need for sustainable and reliable energy sources while aiming for carbon neutrality by 2050. TotalEnergies has been actively involved in the natural gas sector, highlighted by their acquisition of Engie's portfolio of upstream LNG assets, which positioned them as a partner in Cameron LNG. They also finalized a 16.7% interest acquisition in Qatargas II's second liquefaction train and an 8.35% stake in the UK South Hook LNG import terminal, securing long-term LNG supply agreements. Most recently, in November 2023, TotalEnergies acquired three gas plants in Texas for $635 million, further solidifying their presence in the natural gas market.


3. Equinor

  • Website: equinor.com
  • Type: Corporate
  • Headquarters: Stavanger, Rogaland, Norway
  • Founded year: 1972
  • Headcount: 10001+
  • Number of deals in 2024: 6
  • LinkedIn: equinor

Equinor ASA, founded in 1972 and headquartered in Stavanger, Norway, is a public entity operating in the energy sector with a strong focus on oil, gas, and renewable energy. The company is committed to sustainability and aims to achieve net-zero emissions by 2050. Equinor serves a diverse customer base, including governments and industries, providing energy solutions that address climate challenges while ensuring energy security. Notably, Equinor has made strategic investments in the natural gas sector, such as their equity investment in Upwing Energy, which focuses on developing innovative gas compression technology. Additionally, their acquisition of Danske Commodities in 2018 for approximately $470 million further emphasizes their active role in the energy market, including natural gas trading. These transactions reflect Equinor's commitment to enhancing its portfolio in the natural gas industry while transitioning towards more sustainable energy solutions.


4. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in a diverse range of investment strategies, including private equity, infrastructure, real estate, growth equity, and venture capital. EQT serves institutional investors by providing expertise in managing varied investment portfolios across multiple sectors and geographies. In the natural gas context, EQT has made significant strides, including the acquisition of Equitrans Midstream Corporation for approximately $5.5 billion, which established a large-scale, vertically integrated natural gas business in the U.S. This merger is expected to enhance operational capabilities and generate substantial annual synergies. Additionally, EQT's acquisition of Swedegas in 2009 aimed to strengthen the Swedish gas market, further underscoring their commitment to the natural gas sector. Other relevant transactions include their acquisition of Aker Solutions and Statera Energy, which, while not exclusively focused on natural gas, contribute to their overall energy investment strategy.


5. Bgf

  • Website: bgf.co.uk
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2011
  • Headcount: 51-200
  • Number of deals in 2024: 53
  • LinkedIn: bgfinvestments

BGF Investment Management Limited is a venture capital firm based in London, England, founded in 2011. The firm specializes in providing growth funding and value creation support to small and mid-sized businesses in the UK and Ireland. BGF addresses the funding gap in the market by making minority investments and offering extensive support services to help businesses scale. Notably, BGF has invested in several companies within the oil and gas sector, including a £2.25m equity investment in Aubin Group, a UK-based oil and gas service business, and a minority stake in Glacier Energy Services, an energy services company. Additionally, BGF invested £8.76m in Magma Global, a manufacturer of carbon fibre pipes for the oil and gas sector, and £7.8m in STATS Group, an Aberdeen-based oilfield service firm. These transactions highlight BGF's active role in the energy sector, particularly in areas that intersect with natural gas operations.


6. HitecVision

  • Website: hitecvision.com
  • Type: Private Equity
  • Headquarters: Stavanger, Rogaland, Norway
  • Founded year: 1985
  • Headcount: 51-200
  • LinkedIn: hitecvision

HitecVision is a private equity investment firm based in Stavanger, Rogaland, Norway, founded in 1985. The firm specializes in the European energy sector, focusing on providing institutional capital to energy production and infrastructure projects. HitecVision emphasizes sustainability and the energy transition while managing private equity funds and partnering with various stakeholders to drive growth in renewable energy and related industries. Notably, HitecVision has been involved in several transactions relevant to the natural gas sector, including their investment in Vår Energi, a company engaged in oil and gas production, and their equity financing of Noreco, a Norwegian energy company. Additionally, their acquisition of CapeOmega, which operates in the energy sector, further highlights their active role in the natural gas industry.


7. Groupe Crédit Agricole

  • Website: credit-agricole.com
  • Type: Private Equity
  • Headquarters: Montrouge, Île-De-France, France
  • Founded year: 1894
  • Headcount: 10001+
  • Number of deals in 2024: 18
  • LinkedIn: credit-agricole

Groupe Crédit Agricole is a cooperative banking group based in Montrouge, Île-De-France, France, founded in 1894. It provides a comprehensive range of financial services, including banking, insurance, and investment management, with a strong focus on mutuality and social responsibility. In recent years, Crédit Agricole has engaged in various transactions that highlight its involvement in the natural gas sector. For instance, it participated in debt financing for Southern California Gas, which raised $600 million in November 2022, and for Firmus Energy, which raised an undisclosed amount in January 2024. These transactions demonstrate Crédit Agricole's commitment to supporting companies in the natural gas industry, alongside its broader investment portfolio.


8. Engie

  • Website: engie.com
  • Type: Corporate
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1834
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: engie

ENGIE is a corporate energy company based in Paris, Île-De-France, France, founded in 1834. It specializes in renewable energy and energy solutions, providing services aimed at reducing energy costs and emissions. Engie operates globally with a strong emphasis on sustainability and decarbonization. In recent transactions, Engie has acquired Ixora Energy Ltd, a UK-based leader in biomethane production, for £64.8 million, which enhances their presence in the European biomethane market. This acquisition is significant as biomethane is a renewable form of natural gas. Additionally, Engie has participated in various funding rounds and acquisitions focused on sustainable energy solutions, further solidifying their role in the energy sector, including natural gas.


9. TotalEnergies Ventures


TotalEnergies Ventures is the venture capital arm of TotalEnergies, a global integrated energy company based in Paris, France. Founded in 2008, TotalEnergies focuses on providing a wide range of energy solutions, including oil, natural gas, and renewable energy, with a commitment to sustainable practices and reducing carbon emissions. The firm has been involved in various investment transactions, including notable investments in companies like Gevo, which raised funds in multiple rounds, indicating TotalEnergies' interest in innovative energy solutions. Additionally, TotalEnergies Ventures invested in 45-8 ENERGY and Booster, further showcasing their active role in the energy sector. While their investments span different energy types, their foundational focus on natural gas as part of their broader energy strategy supports their inclusion as a natural gas investor.


10. Mercuria


Mercuria Energy Group Ltd. is a corporate investor based in Geneva, Switzerland, founded in 2004. The company is a prominent player in the energy trading sector, focusing on various commodities, including crude oil, natural gas, and renewable energy. Mercuria provides trading services and invests in sustainable projects, catering to businesses transitioning to net zero. Among their notable transactions, Mercuria acquired a 100% equity interest in Noble Americas Gas & Power Corp. from Noble Americas Corp. in 2017, highlighting their commitment to the natural gas market. Additionally, they participated in significant debt financing for Northwind Midstream Partners, raising $700 million in 2025, which underscores their active role in the natural gas sector. Overall, Mercuria's diverse portfolio and strategic investments in natural gas-related companies position them as a relevant investor in this industry.


11. Deutsche Bank

  • Website: db.com
  • Type: Corporate
  • Headquarters: Frankfurt, Hesse, Germany
  • Founded year: 1870
  • Headcount: 10001+
  • Number of deals in 2024: 32
  • LinkedIn: deutsche-bank

Deutsche Bank AG, founded in 1870 and headquartered in Frankfurt, Hesse, Germany, is a leading investment bank and financial services provider. With over 10,000 employees, it offers a wide range of solutions including investment banking, corporate banking, cash management, trade finance, and securities services. In 2024, Deutsche Bank was involved in 32 investments, showcasing its active role in the financial market. Notably, it participated in significant debt financing transactions, such as the $3.33 billion financing for VARO Energy, which plans to invest heavily in energy projects, potentially including natural gas. Other transactions include debt financing for companies like Pemex and BB Energy, which are involved in the energy sector, indicating Deutsche Bank's engagement with firms that may have interests in natural gas. This diverse portfolio positions Deutsche Bank as a relevant player in the energy investment landscape.


12. EV Private Equity


EV Private Equity is an investment firm based in Stavanger, Rogaland, Norway, specializing in energy technology and sustainable investments. Founded in 2002, the firm partners with management teams to enhance business strategies and drive emissions reduction in energy-intensive sectors. Their focus on responsible investment practices positions them as a leader in the transition to a sustainable energy future. Notably, EV Private Equity has been involved in transactions such as Zilift Limited, a provider of artificial lift solutions for the oil and gas industry, which received growth capital investment from various energy-focused investors. Additionally, they have participated in funding rounds for companies like Abrado Wellbore Services and Reach Production Solutions, both of which operate within the oil and gas sector. These transactions highlight their engagement with companies that have relevance to natural gas operations, further supporting their inclusion as a natural gas investor.



Natural Gas Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
ShellLondon, England, United Kingdom (UK)10001+190720
TotalEnergiesFrance10001+192411
EquinorStavanger, Rogaland, Norway10001+19726
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
BgfLondon, England, United Kingdom (UK)51-200201153
HitecVisionStavanger, Rogaland, Norway51-20019850
Groupe Crédit AgricoleMontrouge, Île-De-France, France10001+189418
EngieParis, Île-De-France, France10001+18343
TotalEnergies VenturesParis, Île-De-France, France10001+20080
MercuriaGeneva, Geneva, Switzerland1001-500020047
Deutsche BankFrankfurt, Hesse, Germany10001+187032
EV Private EquityStavanger, Rogaland, Norway11-5020020


Want to find more investors focusing on the natural gas industry?

If you want to find more investors that are active in the natural gasindustry, you can do that with Inven. We built this list and analysis throughInven's Investor Search, and there are a lot more private equity, venturecapital, and corporate investors like these globally.

With Inven, you'll also get to know:

  • Deal History: Number of deals and their sizes.
  • Portfolio: Companies they've invested in.
  • Contact data: Key dealmakers, including their emails and phonenumbers.
  • ...and much more!