Energy company Gasum on Wednesday (13 November) said it is acquiring AGA’s Clean Energy business and Nauticor’s Marine Bunkering business from Linde AG.
The transaction includes an LNG liquefaction plant, two LNG terminals, two LNG bunkering vessels, and 48 gas filling stations in Sweden and Norway.
The acquisition was signed on November 13, 2019. The transaction is subject to relevant approvals from competition authorities. The transaction is anticipated to be completed during 2020.
The development will enhance the development of the Nordic gas market and create a platform for Gasum to provide a broader offering to meet the increasing demand for low-emission energy solutions from customers in industry, maritime and road transport, it explains.
The transaction will improve access to competitive natural gas and biogas, multiply the available LNG logistics capacity and expand Gasum’s Nordic gas filling station network.
Together, the businesses employ 35 employees and generates annual revenues of more than EUR 100 million. In the acquisition, several assets will be transferred to Gasum.
“The acquisition of AGA’s Clean Energy and Nauticor’s Marine Bunkering businesses is an integral part of our growth strategy,” says Gasum CEO Johanna Lamminen.
“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 very excited about this transaction which is important step for our com-pany when building the Nordic gas ecosystem and answering the increasing demand for low-emission energy solutions from customers.”
Photo credit: Nauticor
Published: 15 November, 2019
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