Calgary-based Vermilion Energy Inc. emerged as the top natural gas supplier in Ireland on Monday by closing a $434 million corporate takeover.

Vermillion Energy

Vermilion bought Equinor Energy Ireland Ltd. (EEIL) to become majority owner of the Corrib natural gas project, offshore Ireland’s west coast. Vermilion has operated Corrib since 2018. The deal raised the producer’s share in Ireland’s lone production field to 56.5% from 20%.

“We entered into an agreement with Equinor ASA in November 2021 to acquire EEIL,” executives said. “The acquisition of EEIL adds approximately 7,000 boe/d of premium-priced, high netback, low-emission European natural gas production, further strengthening Vermilion’s international portfolio.

“Vermilion has been operating internationally for over 26...