Gasum ups stake in Skangas

Gasum ups stake in Skangas

Finland’s Gasum said it is increasing its shareholding in Skangas to 70 percent, with the Norwegian Lyse Group holding the remaining 30 percent. 

Gasum intends to strengthen its position in the Nordic natural gas ecosystem where liquefied natural gas (LNG) is playing an increasingly important role with the increased share.

The company acquired a majority shareholding of 51 percent in Skangas in 2014, and the current increase in ownership will provide Gasum with new capacities for the development of the Nordic LNG market.

“The significance of LNG in the Baltic Sea and the Nordic countries is increasing rapidly, and Gasum wants to lead the way in this growth. This increase in shareholding will make us even better positioned to respond to the growing demand for LNG and that way build a bridge to a carbon-neutral society together with our partners,” Gasum CEO Johanna Lamminen said.

LNG can be used in maritime transport as well as heavy-duty road transport and industry. Because LNG can be transported flexibly, it enables the utilization of energy-efficient gas also in areas outside the gas pipeline network, Gasum notes.

The volumes of liquefied natural gas and biogas used in the Nordic countries are increasing in all sectors of transport and industry.

Skangas’ LNG infrastructure, including the Tornio LNG terminal due to open in February 2018 in Finland, enables better access to LNG in the northern parts of the Nordic countries.

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