Skangas To Become Gasum

Skangas, the leading Scandinavian distributor and producer of small-scale LNG, said November 26 it is changing its name to that of its owner, Gasum.

Finnish gas utility Gasum increased its stake in Skangas, which is also a leading supplier of LNG as a bunker fuel in the region, from 70% to 100% in October 2018. The acquisition was part of Gasum's strategy, a core element of which is to develop the Nordic gas market and its LNG infrastructure. As a result, Skangas will be renamed Gasum at the latest by December 3 2018.

"The name change will strengthen the Gasum brand in the Nordic countries and the position of Gasum as the leading provider of LNG in the region," said Skangas.  It was originally named Skangass, incorporating the Norwegian spelling of 'gas', but changed its name in June 2015 to Skangas so that it had a more international appeal.

Skangas has a small 300,000 ton/yr liquefaction unit at Risavika, near Stavanger in southwest Norway, plus supply terminals in Norway, Sweden and Finland; it also buys LNG in from larger suppliers. The company was founded in 2007 and originally owned by Norwegian energy distributor Lyse. Gasum became Skangas's new majority shareholder with 51% in 2014 and increased that since, via 70%, to 100% last month.

(Banner photo: one of the small LNG carriers, Coral Energy, that Skangas has chartered for its distribution activities - photo credit: Skangas)