EMEA News
Skangas to Acquire Norwegian LNG Bunkering Facility
Gasum subsidiary Skangas Wednesday announced that it will acquire the Risavika liquefied natural gas (LNG) production plant in Norway, from Lyse Group.
Executives from Skangas and the Lyse Group recently signed the agreement, which includes an LNG marine bunkering facility.
According to a press release the acquisition of the Risavika production plant will strengthen Skangas's presence in the downstream LNG sector and will "secure" the company's commercial position in the Norwegian market and North Sea.
The release notes the Risavika production plant has an annual production capacity of 300,000 tonnes of LNG, and that the volume of its tank is 30,000 cbm.
The acquisition also includes the LNG marine bunkering facility.
"The acquisition will strengthen our position in the growing LNG market, increase our overall storage capacity and improve our current and future customers' access to LNG under long-term and competitive conditions," said Tor Morten Osmundsen, CEO, Skangas.
Gasum acquired the majority of the Norwegian Skangas's distribution operations from the Lyse Group in 2014, with the transaction including a purchase option of the Risavika LNG production plant; that option has now been exercised.
The acquisition was part of Gasum's strategy to improve the availability of competitive LNG in the Nordic countries.
The acquisition of the Risavika LNG production plant is subject to approval by authorities in Sweden and Norway.
"Under the tolling agreement signed in 2014, we have bought the full annual capacity of the Risavika LNG plant. The acquisition of the plant puts the final pieces in place in the overall acquisition of Skangas," said Johanna Lamminen, CEO, Gasum.
"This acquisition is part of our LNG business development and further strengthens our position as the leading LNG player in the Nordic market."
In January of 2015 Ship & Bunker reported that Skangas had commissioned a LNG bunker vessel.
