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Gasum to acquire AGA Clean Energy and Nauticor Marine Bunkering from Linde

Finland-headed gas and energy major Gasum Oy has announced that it is acquiring AGA’s Clean Energy business and Nauticor’s Marine Bunkering business from Linde AG. The acquisition 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.

On September 13, 2019, the M/T Ternsund broke new ground by bunkering liquefied natural gas (LNG) fuel alongside in Södertälje harbour in Sweden while they handled cargo there. This is the first time a vessel bunkered LNG, ship-to-ship in Södertälje and “a major step” towards greater availability of LNG as a maritime fuel (photo courtesy Ternank).

Gasum is acquiring AGA’s Clean Energy business and Nauticor’s marine bunkering business from their current owner, Linde AG. Together, the businesses employ 35 employees and generate annual revenues of more than EUR 100 million.

According to Gasum, the transaction will improve access to competitive natural gas and biogas, multiply the available liquefied natural gas (LNG) logistics capacity and expand Gasum’s Nordic gas filling station network.

The acquisition agreement, which was signed on November 13, 2019, is subject to relevant approvals from competition authorities. The transaction is anticipated to be completed during 2020. In the acquisition, several assets will be transferred to Gasum. These include:

  • an LNG liquefaction plant;
  • two LNG terminals;
  • two LNG bunkering vessels;
  • 48 gas filling stations in Sweden and Norway.

The acquisition, the value of which has not been disclosed, will strengthen Gasum’s strategy by developing the Nordic gas market and creating a platform for a broader offering to its customers in the maritime, industry and road transport segments.

In addition, the acquisition accelerates Gasum’s growth strategy for cleaner transport solutions in the Nordic heavy-duty vehicle (HDV) market.

The acquisition of AGA’s Clean Energy and Nauticor’s Marine Bunkering businesses is an integral part of our growth strategy. 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. We are very excited about this transaction which is important step for our company when building the Nordic gas ecosystem and answering the increasing demand for low-emission energy solutions from customers, said Johanna Lamminen, CEO, Gasum.

The acquisition is part of Gasum’s strategy execution and further strengthens the company’s capacity to offer gas solutions for various customer segments in multiple locations.

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