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Skangas now 100% owned by Gasum

OCTOBER 11, 2018 — Espoo, Finland, headquartered Gasum Oy has purchased the remaining shareholding in the Norwegian liquefied natural gas (LNG) provider Skangas from the Lyse Group. In 2014, Gasum became Skangas's majority shareholder with a 51% holding, and in 2017 the share grew to 70%.

Skangas has extensive knowledge of LNG production and sourcing, and the construction of key LNG infrastructure for marine deliveries, from land-based infrastructure to LNG bunkering vessels (LNGBVs). Among its fleet is the bunkering vessel Coralius, which conducts ship-to-ship operations primarily in the North and Baltic Seas.

Gasum says that the acquisition strengthens a key element of its strategy and will further enhance the development of the Nordic gas market and LNG distribution network. The increase in shareholding consolidates Gasum's position as the leading Nordic LNG provider;

"Completing the acquisition of Skangas gives us even better opportunities to build and develop the Nordic gas ecosystem and to respond to growing demand. We thank the Lyse Group for the good co-operation in developing the LNG market," says Johanna Lamminen, CEO, Gasum. "The need for cleaner fuel solutions in industry and transport is increasing significantly, and LNG is the most competitive option for low-emission fuels. We want to be the frontrunner in taking the Nordic countries to a cleaner tomorrow."

Gasum notes that the demand for cleaner fuel solutions is increasing rapidly and that LNG can be used in both maritime and heavy-duty road transport, as well as in industrial processes. Renewable liquefied biogas (LBG) can be used in the same applications.

Read source:  https://www.marinelog.com/index.php?option=com_k2&view=item&id=30728:skangas-now-100-owned-by-gasum&Itemid=231

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