Gasum Boosts LNG Network with Skangass Deal

MarineLink.com
Monday, February 24, 2014

Reuters - Finnish gas company Gasum is to acquire 51 percent of Norwegian Skangass's distribution operations from Lyse Corporation as it seeks to improve the efficiency of its liquefied natural gas (LNG) network.

Gasum said on Monday that the deal, which will make it the largest Nordic operator in the LNG market, is also intended to ensure that it benefits from tighter European Union emissions regulations.

Various new regulations on sulphur emissions in the shipping sector will come into place for much of the North and Baltic Sea as well as the United States and Canada in 2015, which has driven interest in alternative fuels to diesel.

"This [acquisition] will probably mean owners in the shipping sector will hesitate less when they order ships, because they can depend on LNG," Tommy Mattila, head of Gasum's LNG business, told reporters.

Gasum said that Skangass's terminals and tankers will help to bolster the scale and cost-efficiency of its LNG sourcing and delivery.

"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, industrial and heavy transport sectors," Johanna Lamminen, Gasum's executive vice-president, said.

The companies did not disclose the value of the deal and Gasum declined to comment on how long it would take to make a profit on the investment.

Gasum's owners include state-controlled utility Fortum , Russia's Gazprom, the Finnish state and Germany's E.ON, who hold stakes of 31 percent, 25 percent, 24 percent and 20 percent respectively. The Finnish government said last year that it was considering buying E.ON's stake.

(Reporting by Ritsuko Ando; Editing by Alistair Scrutton and David Goodman)

 

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Pollet to Lead R&D at Coldharbour Marine

Coldharbour Marine Ltd. has appointed Professor Bruno Pollet to head its R&D department.   Bruno Pollet moves to Linby, Nottinghamshire from the University of the Western Cape,

ClassNK Opens R&D Center in Singapore

Classification society ClassNK promoted the activities of its new Global Research and Innovation Center (GRIC) at a press conference held today in Singapore.   Joined

ABS Appoints New Chief Technology Officer

ABS named Howard Fireman as Senior Vice President and Chief Technology Officer (CTO) effective April 20 in a move that strengthens alignment and generates further

Ports

SAAM SMIT Towage Brazil Signs on with Helm

Helm Operations has signed on Brazilian harbor services company SAAM SMIT Towage to its Helm Marine Operations software to manage its billing and dispatch.    SAAM

First Ocean Vessel of 2015 Arrives at Port of Indiana

Northwest Indiana celebrates opening of gateway to global markets   The arrival of the 655-foot bulk carrier M/V Irma at the Port of Indiana-Burns Harbor signals

Risk & Reputation in the age of Disruption

Risks faced by today’s global businesses represent a combination of traditional concerns and newer threats that reflect changing times. The 2015 Allianz Risk Barometer,

LNG

Underway on LNG

On 17 January 1955, Commander Eugene P. Wilkinson, USN, the first Commanding Officer of USS Nautilus (SSN 571) signaled the memorable and historic message “Underway on nuclear power.

ExxonMobil President Seeks Swift Action on US LNG Exports

The United States is at risk of losing economic opportunity and the ability to solidify its role as a global leader in energy production unless the government moves

Cargo Ferry Project Moves Transport from Road to Sea

A new competitive and eco-friendly maritime transport concept, the Cargo Ferry project, was presented in Oslo today. The result of more than two years of work,

News

SAAM SMIT Towage Brazil Signs on with Helm

Helm Operations has signed on Brazilian harbor services company SAAM SMIT Towage to its Helm Marine Operations software to manage its billing and dispatch.    SAAM

Siemens Wins Vessel Electrical Installation Contract

Nautilus Minerals Inc. announces that the order for the supply of the entire electrical installation for the production support vessel has been awarded to Siemens International Trading (Shanghai) Ltd.

Delivery Begins for HMS Prince of Wales Bridge

The bridge section of the U.K.’s second Queen Elizabeth Class aircraft carrier has been loaded out of its dock hall in Glasgow ahead of its first sea voyage to Rosyth.

Mergers & Acquisitions

China Shipbuilders may Merge to Stay Afloat

The China's four state-run shipping-related companies  are reportedly in the initial phases of combining units in order to beef up the national shipbuilding industry, says local media.

Caterpillar Acquires ESRG Technologies

Caterpillar Marine has completed the acquisition of ESRG Technologies Group, LLC, a vessel monitoring and data analytics company in the marine industry.   The

Thomson Cruises Names New Ship

Thomson Cruises’ newly acquired Splendour of the Seas will be renamed Thomson Discovery when it joins the company’s fleet in summer 2016 and it will homeport in Palma.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Ship Repair
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: 0.1863 sec (5 req/sec)