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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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Gasum ups stake in LNG bunker supplier Skangas to 70%

Gasum strengthens its position in the Nordic LNG market.





Updated on 23 Jun 2017 08:29 GMT

Gasum has announced that it is increasing its shareholding in LNG bunker supplier Skangas from 51 percent to 70 percent.

Lyse Group, which had a 49 percent stake in the firm, is decreasing its ownership to 30 percent.

Commenting on the news, Gasum said: "The increase in shareholding will strengthen Gasum's position as the leading LNG provider and developer of the Nordic gas ecosystem.

"Developing the Nordic gas ecosystem is a key element of Gasum's strategy, and LNG in particular will play an increasingly important role in the Nordic gas market in the future."

Gasum acquired a majority shareholding of 51 percent in Skangas in 2014, and the company says the 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," remarked Gasum CEO Johanna Lamminen.

Skangas supplies LNG as fuel in shipping and heavy-duty road transport, and in industrial processes outside the gas network. The company's LNG portfolio consists of the purchase of feed gas, LNG liquefaction, and distribution of LNG by trucks and ships through receiving terminals, to customer facilities where LNG is regasified to natural gas or delivered as fuel to end users.

Skangas has a liquefaction plant in Risavika, Norway, in addition to owning and operating LNG terminals in Ora (Norwa), Lysekil (Sweden), and Pori (Finland). Skangas is also a shareholder of the Manga LNG joint venture, which is due to open a new terminal in Tornio, Finland, in 2018.

The company operates the Coral Energy, which is the world's first direct-driven, dual-fuel, ice-class 1A LNG carrier.

The other vessel operated by Skangas, the Coralius, is the first LNG bunker vessel to be built in Europe and was recently christened in a ceremony held on May 22. It is due to perform ship-to-ship LNG bunker deliveries in the North Sea, the Skagerak area and the Baltic Sea.

Image: The Coralius is the first LNG bunker vessel to be built in Europe.






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Norway

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