Gasum Acquires Majority Stake in Skangass’ Distribution Operations

Finland’s Gasum unveiled it will acquire 51% of Norwegian Skangass’ distribution operations from Lyse Corporation.

‘The acquisition is a part of Gasum’s strategy of improving the availability of competitive liquefied natural gas (LNG) in Finland,’ reads a note released on Monday 

Gasum said it wants to increase its clout in the growing Nordic LNG market, taking advantage of the more stringent regulations for sulphur dioxide coming into force in 2015. The new laws will increase the need for cleaner fuels in marine traffic. 

“The acquisition enables the creation of sufficient market coverage and distribution infrastructure in the Nordic countries, giving Gasum the possibility to offer a much more competitive product for end users in the maritime, industry and heavy transport sectors,” says Johanna Lamminen, Gasum’s Excecutive Vice President.

 The two companies see opportunities for joint operations in a more integrated Nordic market, which would create synergies between Finland, Norway and Sweden. 

‘The acquisition will improve the development of purchasing and delivery services, efficiency in the logistics chain and freighting, and raise overall storage capacity,’ explains the note.