For the media
Information about Gasum
Responsibility
For the media
Information about Gasum
Responsibility
For any media enquiries and requests, please contact Gasum Group Communications.
The energy company Gasum is a Nordic gas sector and energy market expert. Gasum offers cleaner energy and energy market expert services for industry and for combined heat and power production as well as cleaner fuel solutions for road and maritime transport. The company helps its customers to reduce their own carbon footprint as well as that of their customers. Together with its partners, Gasum promotes development towards a carbon-neutral future on land and at sea.
The Gasum Group has around 380 employees in Finland, Norway, Sweden and Germany. The company’s revenue totaled €1,128 million in 2019. Gasum is owned by the State of Finland.
The new traffic customer portal will provide business customers with an overall view of their company’s refueling transactions. Launching the customer traffic portal will support Gasum’s strategy of offering companies a low-emission fuel to reduce road traffic emissions in the Nordic countries.
Gasum is rolling out a customer traffic portal to develop the digital customer experience of traffic business customers and to make their own customer relationship management easier irrespective of time or place.
“Our business customers will benefit from the customer portal in the form of time savings and convenience. We want to provide straightforward digital interaction with us and enable easy access to up-to-date customer data in just one click. We are using customers’ user experience to develop our customer portal and will add to the features going forward,” says Olli Paasio, Director, Traffic Finland, Gasum.
The customer portal includes useful features such as:
Become a customer portal user
Business customers can use the traffic customer portal by contacting Gasum's customer service. Use of the customer portal requires the signing of a connection and license agreement, after which a user ID will be created for the customer’s contact person. Our customer service is pleased to help in matters relating to the customer portal.
For more information, please contact:
Olli Paasio, Director, Traffic Finland, Gasum
Phone. +358 50 392 6477, firstname.lastname(a)gasum.com
Risavika LNG dropped 0.8 % week on week and settled at 28.94 EUR/MWh for May contracts. Bullish sentiment for the European gas prices has eased with weather forecast for the end of April is coming closer to seasonal norms. However, the demand for storage injections keeps prices at high levels. The European natural gas storage inventories started injection season with below the 5-year average levels, meaning that additional 47.3 TWh of natural gas should be injected to the storage during the season. The situation creates a demand for LNG, which will be a subject to a spread between natural gas prices in Asia and Europe this summer.
Fuel oil 3.5 has slightly dropped as the inventories showed a considerable draw, 0.4 % reduction week on week and settled at 336.53 USD/t for May contracts. In contrast, low sulfur fuel oil (MFO 0.5) gained 2.6 % and was at 446.86 USD/t, and marine gasoil (MGO 0.1) gained 0.8 % and settled at 494.33 EUR/MWh. Development of oil product prices will mostly depend on inventory data, while supply increase for May may add bearish sentiment. Total stocks fell over the past week, according to the latest data from consultancy Insights Global. This is the lowest recorded since the week to 4 December. Stringent controls on the movement of people across Europe have reduced regional transport fuel demand, creating arbitrage opportunities for buyers elsewhere.
|
Front Month Price index |
||||||
|
LNG Risavika* |
LBG blend Risavika** |
FO 3.5 FOB Rdam |
MFO 0.5 FOB Rdam |
MGO 0.1 FOB ARA |
ULSD FOB ARA |
Unit |
|
28.94 |
31.94 |
24.13 |
30.68 |
33.94 |
36.24 |
EUR/MWh |
|
490.26 |
541.08 |
336.53 |
446.86 |
494.33 |
505.42 |
USD/t |
LNG Risavika - LNG FOB Risavika
LBG Risavika 10 % - 10 % blend of Liquified Biogas
FO 3.5 FOB Rdam – European 3.5% Fuel Oil Barges FOB Rdam (Platts) Futures Quotes
MFO 0.5 FOB Rdam - European FOB Rdam Marine Fuel 0.5% Barges (Platts) Futures Quotes
MGO 0.1 FOB ARA - Gasoil 0.1% Barges FOB ARA (Platts) Futures Quotes
ULSD FOB ARA - European Diesel 10 ppm Barges FOB ARA (Platts) Futures Quotes
Source: CME Group, Gasum, Natural Gas Intelligence, Insights Global
*An estimate for LNG FOB Risavika
** An estimate for 10 % LBG blend FOB Risavika
Risavika LNG gained 1.6 % week on week for May contracts, reaching 29.17 EUR/MWh. The European gas prices were supported by a colder weather forecast for most of April and start of gas injection season. Strong heating demand in the market with lower pipeline gas and LNG supplies resulted in high reliance on underground inventories, leaving them at historically low levels for the start of inventories injection season. This spring and summer gas demand will be higher due to need for injections, providing support for the gas prices. On the other hand, industrial gas demand in most European countries remains below the three-year average, as economic activity remains below the pre-pandemic trend. Despite weak industrial demand projections, gas prices remain supported for Q2 2021 on colder weather forecast and need for inventories.
Benchmark crude prices weakened after OPEC+ decision to increase oil production starting from May despite the expectation that production cuts would continue for the next month. The decision by OPEC+ together with uncertainty about oil demand recovery in Europe have impacted front month oil products prices. Fuel Oil 3.5 has dropped by 5.1 % and closed at 337.76 USD/t for May contracts, low sulfur oil (MFO 0.5) has lost 3.7 % and was seen at 435.31 USD/t, and marine gasoil (MGO 0.1) has dropped by 2.3 % and was seen at 490.38 EUR/MWh. The OPEC + will meet again at the end of April to evaluate the market situation and review the output policy, further keeping prices in check. The demand for oil and inventories data will play a major role in future oil production policy.
|
Front Month Price index |
||||||
|
LNG Risavika* |
LBG blend Risavika** |
FO 3.5 FOB Rdam |
MFO 0.5 FOB Rdam |
MGO 0.1 FOB ARA |
ULSD FOB ARA |
Unit |
|
29.17 |
32.17 |
24.22 |
29.89 |
33.67 |
35.70 |
EUR/MWh |
|
494.16 |
544.98 |
337.76 |
435.31 |
490.38 |
498.00 |
USD/t |
LNG Risavika - LNG FOB Risavika
LBG Risavika 10 % - 10 % blend of Liquified Biogas
FO 3.5 FOB Rdam – European 3.5% Fuel Oil Barges FOB Rdam (Platts) Futures Quotes
MFO 0.5 FOB Rdam - European FOB Rdam Marine Fuel 0.5% Barges (Platts) Futures Quotes
MGO 0.1 FOB ARA - Gasoil 0.1% Barges FOB ARA (Platts) Futures Quotes
ULSD FOB ARA - European Diesel 10 ppm Barges FOB ARA (Platts) Futures Quotes
Source: CME Group, Gasum, Argus Media
*An estimate for LNG FOB Risavika
** An estimate for 10 % LBG blend FOB Risavika
