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Gasum increases shareholding in Skangas to 100%

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LNG Industry,


Nordic energy company Gasum has purchased the remaining shareholding in the Norwegian LNG provider Skangas from the Lyse Group. In 2014, Gasum became Skangas’s majority shareholder with a 51% holding, and in 2017 its share grew to 70%.

“Completing the acquisition of Skangas gives us even better opportunities to build and develop the Nordic gas ecosystem and to respond to growing demand. We thank the Lyse Group for the good co-operation in developing the LNG market,” says Johanna Lamminen, CEO, Gasum. “The need for cleaner fuel solutions in industry and transport is increasing significantly, and LNG is the most competitive option for low-emission fuels. We want to be the frontrunner in taking the Nordic countries to a cleaner tomorrow.”

Gas plays a major role in reducing the carbon footprint in terms of the total use of energy in the Nordic countries. For the last few years, Gasum has been determined to build the Nordic LNG infrastructure to improve the availability of gas for the needs of the industry, transport and maritime sectors. In September, Gasum announced the company’s intention to expand the Nordic LNG filling station network to around 50 locations by the early 2020s. An extensive filling station network in Finland, Sweden and Norway would enable significant increases in the use of LNG and LBG in road haulage and distribution traffic.

The now announced acquisition is a step further in developing the Nordic LNG infrastructure. The acquisition ensures a strong foothold for Gasum in the growing market, and further enhances the industry’s know-how and utilisation of the latest technology innovations.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/10102018/gasum-increases-shareholding-in-skangas-to-100/

 

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