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Gasum completes acquisition of LNG, biogas, marine bunkering businesses in Nordic region

05 May 2020

Swedish bunker supplier Gasum on Thursday (30 April) said it has closed the acquisition of Linde AG’s liquefied natural gas (LNG) and biogas business in Sweden and Norway, and Nauticor’s marine bunkering business in Germany. 

The acquisition is an integral part of Gasum’s strategy execution to accelerate growth for cleaner transport solutions across the Nordics, it said. 

Along with the acquisition, the company notes it further strengthens its capacity to offer a broad range of gas solutions for various customer segments in multiple locations.

In the transaction, Gasum acquired Linde’s LNG and biogas business and Nauticor’s marine bunkering business, and around a total of 35 employees, a customer base and several assets. The businesses generate annual revenues of more than EUR 100 million.

The transaction strengthens Gasum’s strategy by developing the Nordic gas market and creating a platform for a broader offering to its customers in the maritime, industry and road transport segments. 

The acquisition also accelerates Gasum’s growth strategy for cleaner transport solutions in the Nordic heavy-duty vehicle market.

”We are very pleased about this transaction which is an important step for Gasum when building the Nordic gas ecosystem and responding to  increasing customer demand for low-emission energy solutions,”says Gasum CEO Johanna Lamminen.

“The acquisition is part of our strategy execution and further strengthens the company’s capacity to offer gas solutions for various customer segments in multiple locations. 

“The acquisition enables Gasum to supply and to ensure the availability of a competitive, low-emission form of energy to meet the demands of industrial, maritime and road transport customers in the Nordic countries.” 

“We are certain that Gasum will be a strong owner that will successfully develop the cleaner energy and maritime bunkering businesses further,” says Jan Ellringmann, Business President, Linde Region Europe North.

In the transaction, several assets were transferred to Gasum:

  • LNG terminals in Sweden and in Norway
  • Bunkering vessel Seagas 
  • Bunkering vessel Kairos
  • 48 gas filling stations in Sweden and Norway

Related: Gasum to acquire LNG marine bunkering business from Linde


Photo credit: Wärtsilä
Published: 5 May, 2020

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