EMEA News
Nordic LNG Players Join Forces
Finnish gas company Gasum will acquire a 51 percent state in the distribution operations of Norway's Skangass from the Lyse Corporation, the companies said on Monday
With new maritime emissions regulations taking effect next year, the deal aims to improve the availability of liquefied natural gas (LNG) in Finland for ship fuel and other purposes.
"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," said Gasum Executive Vice President Johanna Lamminen.
The deal will improve the reliability of Gasum's LNG services and allow for 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 companies said.
"The acquisition will join the Finnish, Norwegian and Swedish markets geographically, making the delivery of a competitive product possible in the entire area."
Skangass said earlier this month that it is building an LNG bunkering station in Risavika, while Gasum is involved in the construction of a terminal in Finland that may be used to supply ships.
