Gasum completes acquisition of LNG, biogas and Nauticor Marine Bunkering businesses from Linde
Finland-headed gas and energy major Gasum Oy strengthens its capacity to offer gas solutions for transport and industry in the Nordics following the completion of the acquisition of the liquefied natural gas (LNG) and biogas business in Sweden and Norway and Nauticor’s Marine Bunkering business in Germany from global industrial gas major Linde AG.
In November 2019, Gasum announced its intention to acquire AGA’s Clean Energy business and Nauticor’s Marine Bunkering business from Linde AG subject to relevant approvals from competition authorities. The acquisition, the value of which has not been disclosed has been approved and was closed on April 30, 2020.
We are certain that Gasum will be a strong owner that will successfully develop the cleaner energy and maritime bunkering businesses further, said Jan Ellringmann, Business President, Linde Region Europe North.
According to Gasum, the deal will enhance the development of the Nordic gas market and create a platform for Gasum to provide a broader offering to meet the increasing demand for low-emission energy solutions from customers in industry, maritime and road transport.
We are very pleased about this transaction which is an important step for Gasum when building the Nordic gas ecosystem and responding to increasing customer demand for low-emission energy solutions. The acquisition is part of our strategy execution and further strengthens the company’s capacity to offer gas solutions for various customer segments in multiple locations. The acquisition enables Gasum to supply and to ensure the availability of a competitive, low-emission form of energy to meet the demands of industrial, maritime and road transport customers in the Nordic countries, said Johanna Lamminen, CEO of Gasum.
The acquisition is an integral part of Gasum’s strategy execution to accelerate growth for cleaner transport solutions across the Nordics. Along with the acquisition, the company further strengthens its capacity to offer a broad range of gas solutions for various customer segments in multiple locations.
In the transaction, Gasum acquired Linde’s LNG and Biogas business and Nauticor’s Marine Bunkering business, and around 35 employees, a customer base, and several assets were transferred to Gasum including:
- LNG terminals in Sweden and in Norway;
- Bunkering vessel Seagas;
- Bunkering vessel Kairos;
- 48 gas filling stations in Sweden and Norway.
The businesses generate annual revenues of more than EUR 100 million.