Skangas Aquires Risavika LNG

By Aiswarya Lakshmi
Saturday, March 19, 2016
Photo: Skangas

 Skangas, a unit of Gasum, signed a deal with Lyse Group to acquire the Risavika liquefied natural gas (LNG)production facility in 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.
 
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.
 
“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 acquisition will strengthen our position in the growing LNG market, increase our overall storage capacity and improve our current and future customers’ access to LNG under long-term and competitive conditions,” says Skangas CEO Tor Morten Osmundsen.
 
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. The aim of the cooperation is to take a strong position in the growing Nordic LNG market. The acquisition of the Risavika LNG production plant is subject to approval by competition authorities in Sweden and Norway.
 
“Lyse is very pleased that we have now taken the next step in the transaction that began in 2014. Skangas now has a complete value chain within LNG and, strengthened by this, will now enter an exciting market as a leading LNG player in the Nordic market,” says Lyse Group CEO Eimund Nygaard.
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

POSH Bags Shell FLNG Contract

Singapore’s offshore marine services provider PACC Offshore Services Holdings Ltd. (POSH) has been awarded a contract to support Shell’s Prelude floating liquefied

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

Subsea 7 Announces PLSV Swap off Brazil

Subsea 7 S.A. said it has reached an agreement with Petrobras to substitute a pipelay support vessel (PLSV) working off Brazil.   The agreement will see the Subsea-7-owned

LNG

Conrad Shipyard Forms LNG Business Unit

Conrad Shipyard has formed a new business unit focused on LNG projects.   Conrad, builder of North America’s first LNG bunker barge scheduled for 2017 delivery,

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

GTT, Endel Team-up to Roll-out Membrane Containment Systems

21 June 2016. GTT and the Endel company1 reaffirmed their collaboration in the area of LNG as a marine fuel, following the recent signature of a Technical Assistance

Mergers & Acquisitions

OSG Joins NYSE "Big Board"

Overseas Shipholding Group, Inc. (NYSE:OSG) (the “Company” or “OSG”) announced today that it has been approved by the New York Stock Exchange (“NYSE”) to transfer

Merger: Survitec Joins Forces with WMS

Survitec Group announced a transformational deal with the Marine Safety business of Wilhelmsen Maritime Services AS (WMS), in which WMS will transfer into Survitec

Maersk's New CEO Appointment Raises Prospect of Break-up

Danish shipping and oil group A. P. Moller-Maersk could split up into separate companies, its chairman said on Thursday after naming Soren Skou, the head of its container business, as chief executive.

Offshore Energy

POSH Bags Shell FLNG Contract

Singapore’s offshore marine services provider PACC Offshore Services Holdings Ltd. (POSH) has been awarded a contract to support Shell’s Prelude floating liquefied

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

Ulstein Delivers for BS Offshore

The first of two service operation vessels (SOV) ordered in 2015 by Bernhard Schulte Offshore (BS Offshore) and its client Siemens from Ulstein Verft in is now completed,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Salvage Ship Electronics Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0615 sec (16 req/sec)