The acquisition of the Risavika LNG production plant has been approved by the competition authorities of Sweden and Norway. The acquisition of the Risavika production plant will strengthen Skangas’s presence in the downstream of the LNG value chain and secure Skangas’s commercial position in the Norwegian market and North Sea.
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. The acquisition was part of Gasum’s strategy to improve the availability of competitive LNG in the Nordic countries.
“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. This acquisition is part of our LNG business development and further strengthens our position as the leading LNG player in the Nordic market,” says Gasum CEO Johanna Lamminen.
The Risavika production plant has an annual production capacity of 300,000 tonnes of liquefied natural gas (LNG), and the volume of its tank is 30,000 cbm. The acquisition also includes the LNG marine bunkering facility.
About Gasum
Gasum is a Nordic gas sector (natural gas and biogas) expert that is building a bridge to a carbon-neutral society on land and at sea. Gasum contributes to the creation of a sustainable energy economy by increasing the supply of Finnish biogas, developing the Nordic gas ecosystem and ensuring the price competitiveness of gas. Gasum imports natural gas to Finland, upgrades biogas and transmits and delivers these for a broad range of uses in energy production, industry, homes, and land and maritime transport.
Gasum is the leading supplier of biogas in Finland. It injects biogas into the gas network from Espoo, Kouvola and Lahti, and from 2016 onwards also from Riihimäki. The Gasum subsidiary Skangas is a Nordic expert in liquefied natural gas (LNG) that will continue to strengthen the position and infrastructure of LNG and the utilization of new gas solutions more extensively in Finland, Sweden and Norway. Skangas has LNG terminals in Øra, Norway, and Lysekil, Sweden. Finland’s first LNG import terminal will be completed in Pori in 2016. The Gasum Group has around 300 employees in Finland, Norway and Sweden.