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Gasum

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Gasum Oy
Company typeLimited company (Oy)
IndustryOil and gas
Founded1994 (1994)
Headquarters
Espoo
,
Finland
Area served
Finland, Sweden, Norway, Germany, France, Germany, Europe, ARA-region, Singapore
Key people
Johanna Lamminen (CEO)
Elina Engman (Chairman of the Board)
ProductsNatural gas
LNG)
Biogas
Organic fertilizers
Wind power
ServicesEnergy market services
Bunkering services
Processing of biodegradable waste
Circular economy solutions
Revenue€772 million (2020)[1]
€33.8 million (2020)[1]
OwnerGasonia Oy (state-owned holding company, 73.5%)
Finnish Government (26.5%)
Number of employees
380 (2020)[2]
DivisionsMaritime, traffic, industry
SubsidiariesGasum Ab
Websitewww.gasum.com

Gasum Oy is a Finnish state-owned energy company located in Espoo, Finland which imports and sells the nation's natural gas. Gasum owns 17 biogas refineries in Finland and Sweden, and is the largest processor of biodegradable waste in the Nordic countries.[3] In addition, Gasum sells wind power and provides various energy market services. It is in the process of building a gas filling station network that will also serve heavy-duty vehicles.[citation needed]

History

The first natural gas pipeline from the Soviet Union to Finland was opened in 1974.[4] From 1974 to 1994, Neste Oy was responsible for the import, transmission services, and wholesale of natural gas in Finland. Gasum was established in 1994 as a joint venture between Neste (75%) and Gazprom (25%).[5]

After the merger of Neste and Imatran Voima in 1998, the newly created company Fortum had to reduce its stake in Gasum to 25%. As a result, the government of Finland (24%), E.ON (20%) and Finnish forest companies (6%) became new shareholders. In 2004, Fortum acquired the 6% stake from the forest companies.[6] In 2015, Fortum and E.ON sold their stake to the Finnish government.[7] In 2016, Gazprom sold its stake to the Finnish government which became the sole shareholder of the company.[8]

In 2014, Gasum acquired 51% of Skangas from Lyse Energi and increased its ownership to 100% in 2018.[9] Skangas started their LNG business in 2011. In 2018, Gasum built Finland's first liquefied natural gas (LNG) terminal at the oil and chemical harbor of the port of Tahkoluoto in Pori.

Gasum expanded into the Swedish market in 2016 by acquiring Swedish Biogas International. After the deal, Gasum became the largest biogas producer in the Nordic countries. In April 2020, Gasum acquired Linde AG's LNG and biogas business in Sweden and Norway and Nauticor's marine bunkering business in Germany.[10] The LNG terminals in Nynäshamn in Sweden and the bunkering vessels Seagas and Kairos, were transferred to Gasum.

Gasum planned to build a subsea gas pipeline Balticconnector to connect Finland with the Estonian gas system and further with a gas storage in Latvia.[11][12] In October 2015, Gasum abandoned the project due to commercial viability.[13] It was replaced in the project by the Finnish state-owned company Baltic Connector Oy.[14]

Before 2020, Gasum owned 1,190 km (740 mi) of gas transmission network in Finland. According to the Natural Gas Market Act of Finland, gas transmission operations were unbundled to another state-owned company Gasgrid Finland Oy, as of 1 January 2020.[15] Starting from 1 January 2020, its subsidiary, Kaasupörssi Oy, which operated Finland's gas exchange, was closed and all trading moved to the regional GET Baltic exchange.[16]

In 2020, the company entered into partnership with Pavilion Energy, Singapore.[citation needed]

Operations

Natural gas

Gasum imports and sells natural gas, including liquefied natural gas (LNG). In 2011, Gasum started biogas production by using anaerobic digestion.[17] Gasum owns biogas plants in Finland and in Sweden. The company produces fertilizer products and nutrients alongside with biogas.[citation needed]

Gasum offers LNG and LBG bunkering service for all vessel types. Gasum delivers LNG from terminals located in Norway (Risavika, Øra), Sweden (Lysekil and Nynäshamn) and Finland (Pori and Tornio). In addition to the Nordic countries, it provides bunkering services in the Antwerp, Rotterdam and Amsterdam region, iGermany, and in partnership with Pavilion Energy in Singapore.[citation needed]

Filling stations

Gasum has a network of gas filling stations.[18] Due to investments in new gas filling stations and acquisitions of stations, Gasum has around 100 gas filling stations in the Nordic countries. Besides building new gas filling stations, it has development projects across the station network to increase capacity at existing filling stations.[citation needed]

Energy market services

Gasum offers energy market expert services. It is also a member of the Nordic power exchange of Nasdaq OMX.[19]

Corporate affairs

Gasum's Chief Executive Officer is Johanna Lamminen since 2013. The Chair of the Board is Elina Engman since 2020.[20]

Gasum is involved in several international organizations, such as Eurogas, European Network of Transmission System Operators for Gas (ENTSOG), Gas Infrastructure Europe (GIE), International Gas Union (IGU), European Gas Research Group (GERG) and the European Pipeline Research Group (EPRG).

  • Gasum can deliver LNG and LBG by truck to maritime vessels, industry or gas filling station.
    Gasum can deliver LNG and LBG by truck to maritime vessels, industry or gas filling station.
  • Gas filling station in Helsinki, Ruskeasuo.
    Gas filling station in Helsinki, Ruskeasuo.
  • Gasum delivers LNG with carriers to terminals located in Finland, Sweden and Norway.
    Gasum delivers LNG with carriers to terminals located in Finland, Sweden and Norway.

See also

References

  1. ^ a b "Gasum's Financial Review 2020" (PDF). Gasum. 5 December 2020.
  2. ^ "Gasum Taloudellinen katsaus 2020" (PDF). Gasum. 21 March 2020.
  3. ^ "Gasum becomes the biggest in the Nordics". Good news to Finland. August 2019.
  4. ^ Käyhkö, Tuija (15 January 2004). "Kekkonen runnoi maakaasun Suomeen" [Kekkonen supplies natural gas to Finland]. Tekniikka & Talous (in Finnish). Retrieved 28 August 2019.
  5. ^ "Gasum Annual Report, page 52" (PDF). Archived from the original (PDF) on 1 September 2011. Retrieved 12 September 2011.
  6. ^ "Mergers: Commission decides to allow Fortum to increase its shareholding in Gasum in the Finnish energy sector" (Press release). European Commission. 1 December 2004. Retrieved 6 July 2015.
  7. ^ Rosendahl, Jussi (19 March 2015). "Finland buys Gasum stakes from Fortum and E.ON". Reuters. Retrieved 6 July 2015.
  8. ^ "Finland buys out Russian share in gas firm Gasum". Yle Uutiset. 18 December 2015. Retrieved 21 December 2018.
  9. ^ "Gasum secures full ownership of Skangas". LNG World News. 10 October 2018. Retrieved 22 October 2018.
  10. ^ "Gasum takes steps forward in its growth strategy by acquiring AGA's Clean Energy business and Nauticor's Marine Bunkering business from Linde AG" (Press release). Gasum. 14 November 2019. Retrieved 20 May 2021 – via Hellenic Shipping News.
  11. ^ Torma, Sami (31 May 2007). "Gasum proposes gas pipeline". Reuters. Retrieved 26 March 2012.
  12. ^ "Finns plan new subsea gas link". Upstream Online. NHST Media Group. 31 May 2007. (subscription required). Retrieved 13 October 2007.
  13. ^ "Gasum Dumps Balticconnector Plan". Subsea World News. 6 October 2015. Retrieved 24 November 2015.
  14. ^ "Elering with its Finnish partner submits grant application to EU Commission". The Baltic Course. 15 October 2015. Retrieved 24 November 2015.
  15. ^ "Finland's Gasum will divest gas transmission ops by 2020, expand in LNG and biogas – Mr Haikarainen". SteelGuru. 26 December 2017. Retrieved 28 August 2019.
  16. ^ "Finnish gas exchange to shut, trading moves to Baltic bourse from 2020". S&P Global Platts. 30 August 2019. Retrieved 2 January 2020.
  17. ^ Gasum biogas from the forests-proschure 2011
  18. ^ "Gasum gas filling stations in Nordic". Gasum webinformation. 12 November 2020.
  19. ^ "Gasum's role as Nordic energy company strengthened by Nasdaq Nordic Commodities membership" (Press release). 10 February 2020. Retrieved 18 May 2021.
  20. ^ "Gasum Governance and Remuneration report 2020" (PDF). Gasum. 1 May 2021.
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