Gasum to Increase Skangas Stake

Finnish gas utility Gasum is to increase its interest in leading European small-scale LNG supplier Skangas to 70%, stating that the increase from its previous 51% stake will strengthen its position as the leading LNG provider to the Nordic region.

Norwegian utility Lyse Group said June 22 it had reached an agreement to sell a 19% Skangas stake to Gasum; Lyse's stake will fall from 49% to 30%.. 

Skangas is a leading European supplier of LNG as a bunker fuel, as well as to heavy-duty road trucks and industry.  ”The significance of LNG in the Baltic Sea and the Nordic countries is increasing rapidly, and Gasum wants to lead the way in this growth,” said Gasum CEO Johanna Lamminen. 

LNG infrastructure created by Skangas ensures the efficient supply of LNG to customers across Scandinavia, one example of which is the Tornio LNG terminal due to open in northwest Finland in February 2018 at the northernmost point in the Gulf of Bothnia, expanding LNG's reach in the Baltic region. Tornio will belong to the Manga LNG joint venture of which Skangas is a shareholder.

Skangas already owns a small liquefaction unit at Risavika, Norway, in addition to owning and operating terminals in Ora in south Norway, Lysekil in western Sweden, and Pori in western Finland.  It already charters the Coral Energy LNG distribution vessel.

Coralius, the first European built LNG bunker and distribution vessel, was named May 22 by Lamminen. Skangas said June 22 it is due to take delivery of the vessel this summer. It is on long-term charter to Skangas by owners Anthony Veder and Sirius Shipping, having been ordered in 2015 and built by Dutch shipyard Royal Bodewes.

The new 1A ice-class bunker vessel has capacity to carry 5,800 m³ of LNG and will serve customers in the North Sea, Skagerak and Baltic. 

Mark Smedley