Gasum acquiring AGA’s Clean Energy Business

Gasum announced today it is acquiring AGA ’s Clean Energy business and Nauticor’s Marine Bunkering business from their current owner, Linde AG. Together the businesses have 35 employees and generate annual revenues of more than EUR 100 million according to Gasum.

In the acquisition several assets will be transferred to Gasum. These include 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.

Gasum said in a statement the acquisition will strengthen the company’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 of AGA’s Clean Energy and Nauticor’s Marine Bunkering businesses is an integral part of our growth strategy. 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,” says Gasum CEO Johanna Lamminen.

The Gasum Group has around 350 employees in Finland, Norway and Sweden. The company’s revenue in 2018 totaled €1,177 million. Gasum is owned by the State of Finland.