Gasum will buy the majority (51 percent) of Norwegian Skangass’s distribution service from the Lyse Corporation. The acquisition is a part of Gasum’s strategy of improving the availability of competitive liquefied natural gas in The Nordic countries, which will serve not only marine traffic but also the needs of industrial clients outside the natural gas grids and future needs of heavy duty transport.
The new emission regulations for sulphur dioxide coming to effect in 2015 will increase the need for cleaner fuels in marine 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 Executive Vice President.
Skangass will add to delivery reliability of Gasum’s LNG offering through new terminals and tankers. It will also enable 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 will join the Finnish, Norwegian and Swedish markets geographically, making the delivery of a competitive product possible in the entire area, and will also improve the development of purchasing and delivery services, efficiency in the logistics chain and freighting, and raise overall storage capacity.
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 will remain 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, will be transferred to the new company.
Source: Gasum/Skangass.
