Gasum strengthens position with increased ownership in Skangas
Gasum Oy has announced that it is increasing its shareholding in Skangas in a bid to strengthen its position as the leading LNG provider and developer of the "Nordic gas ecosystem".
Finland’s leading gas major Gasum Oy has announced that it is increasing its shareholding in Liquefied Natural Gas (LNG) producer and distributor Skangas, from 51 percent to 70 percent. The other shareholder, Norway-based Lyse Group will continue as a Skangas shareholder with a 30 percent stake.
According to a statement, “developing the Nordic gas ecosystem” is a key element of Gasum’s strategy, and LNG, in particular, will play an increasingly important role in the Nordic gas market in the future. Gasum acquired a majority 51 percent stake in Skangas in 2014, and the current increase in ownership will provide the company with new capacities for the development of the Nordic LNG market.
Bridge to carbon-neutrality
The significance of LNG in the Baltic Sea and the Nordic countries is increasing rapidly, and Gasum wants to lead the way in this growth. This increase in shareholding will make us even better positioned to respond to the growing demand for LNG and that way build a bridge to a carbon-neutral society together with our partners, said Johanna Lamminen, CEO, Gasum.
LNG can be used in maritime transport as well as heavy-duty road transport and industry. Because of flexible transport options, LNG enables the utilisation of energy-efficient gas also in areas outside the gas pipeline network.
According to Lamminen, LNG is a cost-effective and environmentally friendly way to replace oil-based fuels. Alongside LNG, the same sites of use can also today and in the future use renewable liquefied biogas (LBG), with no additional investments required from the customer for the switch.
The volumes of liquefied natural gas and biogas/biomethane used in the Nordic countries are increasing in all sectors of transport and industry. The LNG infrastructure created by Skangas ensures the efficient supply of LNG to our customers throughout the Nordics, said Lamminen.
One example of this is the Tornio LNG terminal due to open in Finland in February 2018, which will enable better access to LNG in the northern parts of the Nordic countries.
The increase in shareholding is a clear and natural step towards that was already agreed upon in conjunction with the original transaction. The continuously expanding Nordic gas ecosystem is proof of the growing importance of LNG in Finland, Sweden as well as Norway. Gasum is now even more strongly positioned for its further development, Lamminen said.