Key figures and financial reports

The Gasum Gas Fund aims to respond to society’s transformational challenges by developing energy solutions based on gas and producing information supporting the development of the gas sector.

Thematic areas supported may be related to, for example:

• gas-related circular economy and bioeconomy;
• gas transport and logistics;
• distributed energy solutions promoting gas use; or
• gas-based energy storage technologies (such as power-to-gas).

The Gas Fund is one of the special funds run and administered by the Finnish Foundation for Technology Promotion (TES). The application period for the 2019 grants is from January 10 to February 8, 2019. The call for applications can be found on the TES website. https://tekniikanedistamissaatio.fi/en/grants/  

Grants are provided to post-graduate students for doctoral dissertation work. In exceptional cases, funding may also be provided for high-quality Master’s theses. Grants are given out for research conducted in Finland, including possible periods of working abroad on the project. The Gasum Gas Fund aims to support full-time research with full daily allowances. In addition, the Gasum Gas Fund seeks to provide long-term funding to students. Therefore funding can also be applied for through the Fund in several consecutive years. This, however, requires proof of progress made in the work. Progress must be indicated in the application as well as in the reference letter provided by the advisor or supervisor of the work.

Applications addressed to the Gasum Gas Fund are considered by the Fund’s advisory committee. It is chaired by Lars Gädda, Dr. Tech., and the other members are Professor Jukka Rintala from Tampere University of Technology, Professor Esa Vakkilainen from Lappeenranta University of Technology, Marianna Jokila from Finnish Foundation for Technology Promotion and Gasum CEO Johanna Lamminen, DSc. (Tech.).

In 2018, the Gasum Gas Fund gave out seven grants totalling €40,800. Grants have been provided since 2005.

Key financial indicators 

• Revenue €827.4 million, up 22,5% (€675.7 million)
• Sales of Natural Gas business €613.2 million (€497.8 million)
• Sales of LNG business €176.8 million (€140.5 million)
• Sales of Biogas business €35.5 million (€35.4 million)
• Operating profit €93.0 million, up 20,0% (€77.5 million)

Gasum Group CEO Johanna Lamminen comments on the third quarter of 2018: 

”Our Group’s financial performance improved in line with our expectations during the period under review. Our revenue was up 22.5%  year on year at €827.4 million and our operating profit was €93.0 million.

The fight against climate change necessitates a transition from carbon- and oil-based alternatives to cleaner solutions, and this is rapidly accelerating the demand for gas. In the years ahead, we will be investing significantly in the development of the Nordic gas market and infrastructure. We are continuously strengthening our capacity to offer diverse, competitive and easy-to-access gas solutions to our customers in Finland, Sweden and Norway.

In transport in particular, the demand for cleaner gas solutions is growing considerably. Transport accounts for around a fifth of the EU’s greenhouse gas emissions total and, of this, a quarter is from delivery and heavy-duty vehicles. To respond to this growing demand, we have adopted offering clean alternatives for transport as one of our strategic focuses.

In September, we announced a major plan to expand the gas filling station network for heavy-duty vehicles by around 50 stations in Finland, Sweden and Norway. The new filling stations will be located at key transport nodes as regards road haulage flows, and they will enable significant increases in the use of liquefied natural gas and biogas in heavy-duty transport.

Another important step in the development of the Nordic gas market is the transaction closed in late August where we acquired the energy market services business of Enegia.

The acquisition enables us to serve our Nordic customers more extensively. At the same time, we are continuing preparations for the opening up of the Finnish gas market effective from the beginning of 2020.”

Please read Q3 2018 Interim report >

Nordic energy company Gasum has purchased the remaining shareholding in the Norwegian liquefied natural gas (LNG) provider Skangas from the Lyse Group. In 2014, Gasum became Skangas's majority shareholder with a 51% holding, and in 2017 the share grew to 70%.

"Completing the acquisition of Skangas gives us even better opportunities to build and develop the Nordic gas ecosystem and to respond to growing demand. We thank the Lyse Group for the good co-operation in developing the LNG market,” says Johanna Lamminen, CEO, Gasum. "The need for cleaner fuel solutions in industry and transport is increasing significantly, and LNG is the most competitive option for low-emission fuels. We want to be the frontrunner in taking the Nordic countries to a cleaner tomorrow.”

Gas plays a major role in reducing the carbon footprint in terms of the total use of energy in the Nordic countries. The demand for cleaner fuel solutions is increasing rapidly as new ways to reduce emissions and fight climate change are sought in all transport and industry sectors. LNG can be used in both maritime and heavy-duty road transport, as well as in industrial processes. Renewable liquefied biogas (LBG) can be used in the same applications.

For the last few years, Gasum has been determined to build the Nordic LNG infrastructure to improve the availability of gas for the needs of the industry, transport, and maritime sectors. In September, Gasum announced the company’s intention to expand the Nordic LNG filling station network to around 50 locations by the early 2020s. An extensive filling station network in Finland, Sweden and Norway enables significant increases in the use of liquefied natural gas and liquefied biogas in road haulage and distribution traffic.

The now announced acquisition is a step further in developing the Nordic LNG infrastructure. The acquisition ensures a strong foothold for Gasum in the growing market, and further enhances the industry’s leading know-how and utilization of the latest technology innovations.