Gasum acquires Skangas in full
Finland-headed gas major Gasum Oy has revealed that it has increased its majority shareholding in Norwegian liquefied natural gas (LNG) provider Skangas to 100 percent. The acquisition strengthens a key element of Gasum's strategy and will further enhance the development of the Nordic gas market and LNG distribution network consolidating Gasum's position as the leading Nordic gas, biogas, and LNG provider.
Gasum has purchased the remaining shareholding in the Norwegian liquefied natural gas (LNG) provider Skangas from the Lyse Group. In 2014, Gasum became Skangas’s majority shareholder with a 51 percent holding, and in 2017 the share grew to 70 percent. LNG can be used in both maritime and heavy-duty road transport, as well as in industrial processes. Renewable liquefied biogas (LBG) can be used in the same applications.
According to Gasum, gas plays a major role in reducing the carbon footprint in terms of the total use of energy in the Nordic countries. The demand for cleaner fuel solutions is increasing rapidly as new ways to reduce emissions and fight climate change are sought in all transport and industry sectors.
In September, the company announced its 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 enable a significant increase in the use of liquefied natural gas and liquefied biogas in road haulage and distribution traffic.
The acquisition is a step further in developing the Nordic LNG infrastructure and ensures a strong foothold for Gasum in the growing market, and further enhances the industry’s leading know-how and utilization of the latest technology innovations.