Gasum is new LNG partner

Gasum aquired the majority (51 percent) of Norwegian Skangass’s distribution operations from the Lyse Corporation on 2 May 2014. The aim of the joint venture is to take a strong position in the growing Nordic LNG market.

The Nordic countries are becoming a significant market for LNG. The new emission regulations for sulphur dioxide coming to effect in 2015 will increase the need for cleaner fuels in marine traffic. Improving the availability of LNG will serve not only marine traffic but also the increasing needs of industrial clients outside the natural gas grids and future needs of heavy duty traffic.

"The acquisition enables the creation of sufficient market coverage and distribution infrastructure in the Nordic countries, giving Gasum the possibility to offer a much more competitive product for end users in the maritime, industry and heavy transport sectors," says Johanna Lamminen, Gasum’s Excecutive Vice President.

Skangass adds to delivery reliability of Gasum’s LNG offering through new terminals and tankers. It also enables fast development of gas infrastructure in the Nordic countries. Large, combined import quantities will result in more cost-efficient LNG-sourcing and thus enhance the opening of new LNG-terminals. The acquisition joins the Finnish, Norwegian and Swedish markets geographically, making the delivery of a competitive product possible in the entire area. The acquisition improves the development of purchasing and delivery services, efficiency in the logistics chain and freighting, and raise overall storage capacity.

Both Gasum and Skangass are experienced operators in LNG. Gasum has been developing its LNG operations since 1996 and the company has long-term experience in the acquisition of natural gas. Skangass began its LNG operations in 2011. The company has developed LNG distribution markets in Norway and Sweden. Skangass has its own processing plant and supply chains for both maritime and industrial clients.

Through the acquisition Gasum’s LNG business unit, including the Porvoo production plant and the planned Turku / Pori terminal will become a part of the new joint enterprise.

The Skangass production plant in Risavika remains in Lyse’s ownership, but a long term delivery contract regarding the use of the unit has been made with the new joint enterprise, Skangass A/S. Skangass’s Öra terminal in Norway, the Lysekil terminal still in construction and the planned Gävle terminal, both in Sweden, has been transferred to the new company. Skangass has charter parties with two tankers. The companies now have a total of 20 LNG tank trucks.

Tor Morten Osmundsen continues as the CEO of the new Skangass, with Johanna Lamminen, Gasum’s Excecutive Vice President as the chairman of the board.

Gasum is investing in the development of Finland’s gas infrastructure in Gasum’s key growth areas as well as developing the Finnish energy infrastructure through environmentally friendly solutions. Within the schedule given by the EU infra package, Gasum will proceed with researching different execution options for the planned Finngulf

GASUM

 Finnish gas company Gasum, founded in 1994, owns the Finnish natural gas and bio-gas transmission network. Gasum is responsible for the import, transfer and wholesale of natural gas.

 Gasum serves power generation, housing and industry, as well as providing eco-friendly solutions for land and sea transport.

 Gasum has provided LNG since 1996 and owns an LNG production plant in Porvoo, Finland, built in 2010.

 In 2012, Group sales totaled EUR 1 282 million. Gasum employs about 260 people.

SKANGASS

 Skangass, a leading player in the Nordic LNG market, was established in 2007.

 The Group employs around 50 people and reported sales of 96 Meur in 2012.

 Skangass’ LNG production facility is located in Risavika, Norway. The plant is classified as one of the world's most modern LNG production facilities. The plant produces 300 000 tonnes of LNG annually. Ownership of the Risavika plant will remain at Lyse, but the Skangass A / S has signed a long-term supply agreement with Lyse.

LYSE

 Lyse is a Norwegian Group operating within the fields of electricity generation, distribution and telecommunication as well as the construction, operation and maintenance of their infrastructure.

 Lyse is owned by 16 municipalities in the Sør-Rogaland district of Norway and has its head office in Stavanger.

 In 2012 the Group’s sales amounted to 810 Meur. Lyse employs nearly 1 000 people.

 

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