Skangas to acquire Risavika LNG production plant

The Gasum subsidiary, Skangas, and the Lyse Group have signed an agreement concerning the sale of the Risavika LNG production plant. This acquisition will strengthen Skangas’s presence in the downstream of the LNG value chain.

The Risavika production plant has an annual production capacity of 300 000 t of LNG, and the volume of its tank is 30 000 m3. The acquisition also includes the LNG marine bunkering facility.

“Under the tolling agreement signed in 2014, we have bought the full annual capacity of the Risavika LNG plant. The acquisition of the plant puts the final pieces in place in the overall acquisition of Skangas. This acquisition is part of our LNG business development and further strengthens our position as the leading LNG player in the Nordic market,” said Gasum CEO, Johanna Lamminen.

“The acquisition will strengthen our position in the growing LNG market, increase our overall storage capacity and improve our current and future customers’ access to LNG under long-term and competitive conditions,” said Skangas CEO, Tor Morten Osmundsen.

Gasum acquired the majority of the Norwegian Skangas’s distribution operations from the Lyse Group in 2014.

“Lyse is very pleased that we have now taken the next step in the transaction that began in 2014. Skangas now has a complete value chain within LNG and, strengthened by this, will now enter an exciting market as a leading LNG player in the Nordic market,” said Lyse Group CEO, Eimund Nygaard.

Edited from press release by Angharad Lock

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/18032016/skangas-to-acquire-risavika-lng-production-plant-2798/