Finland's Gasum boosts LNG business in Nordics with Linde deal

11/13/2019

Finnish state-owned gas company Gasum said it had agreed to buy Linde’s liquefied natural gas (LNG) and marine bunkering business in Norway and Sweden.

Gasum did not disclose the value of the deal.

The assets include one LNG liquefaction plant, two LNG terminals, two LNG bunkering vessels and 48 gas filling stations. They will generate annual revenues of more than 100 million euros (£86 million), Gasum said in a statement.

The deal allows Gasum to grow further in the Nordic region and expand its product range for industrial, maritime and road transport customers that are increasing their LNG use in a move away from heavier carbon fuels.

“The acquisition of AGA’s Clean Energy and Nauticor’s Marine Bunkering businesses is an integral part of our growth strategy,” Gasum’s Chief Executive Johanna Lamminen said.

Gasum said the deal was expected to close during 2020 pending approvals from competition authorities.

Reporting by Lefteris Karagiannopoulos, editing by Nerijus Adomaitis and Jane Merriman