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Olga Väisänen

Vice President Communications
p. +358 40 554 0578
olga.vaisanen@gasum.com
Twitter: @OlgaVaisanen

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Anna-Sofia Malmi

Communications Manager
p. +358 50 469 0114
anna-sofia.malmi@gasum.com
Twitter: @annasofiamalmi

Media releases and news

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Gasum in brief

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 350 employees in Finland, Norway and Sweden. The company’s revenue totaled €1,128 million in 2019. Gasum is owned by the State of Finland.

19.05.2020

Maritime market update: Bunker demand to fall by 5 % in 2020

Risavika LNG index continued its downward trend following European gas markets fundamentals, resulting in the index falling by 2 % week on week. Despite lower pipeline gas imports to Europe and colder weather last week, the market remained oversupplied. Most of the oversupply is accounted for LNG imports and historically high gas inventory levels.

Oil prices went up last week on OPEC+ production cuts, lower US oil production, recovering demand and easing fear of lack of oil storage capacity. Fuel oil prices (FO 3.5) front month closed at 160.68  USD/t last week, 8 % higher than previous week. Low Sulphur (MFO 0.5) front month has gained 3 % and closed at 220.40 USD/t. Stocks of all refined product held in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) oil hub fell 4% as of 14th of May, indicating demand recovery, after a record high level just a week before.  

However, the pace of recovery is not going to be fast. According to IEA forecast, global bunker demand will fall by 8 % year on year in the second quarter as covid-19 related restrictions and policies still limit trade movements and passenger travels, while demand from oil and chemical tankers will stay largely unchanged. The agency forecasts that bunker demand from container, dry bulk and cruise ships will marginally recover in the third and fourth quarters.  However, it will still result in demand from all vessel types dropping by 5 % this year compared to 2019.

 

LNG Risavika - LNG FOB Risavika 

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

 

Front Month Price index

LNG Risavika*

FO 3.5 FOB Rdam

MFO 0.5 FOB Rdam

MGO 0.1 FOB ARA

ULSD FOB ARA

Unit

15.34

11.52

15.13

17.86

19.30

EUR/MWh

259.87

160.68

220.40

260.08

269.20

USD/t

 Price index 18.5.2020.png

Source: CME Group, Gasum, Reuters, Argus Media, IEA

*An estimate for LNG FOB Risavika 

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14.05.2020

Gasum Portfolio Services partners with Keravan Energia in portfolio management

Energy companies Gasum and Keravan Energia have complemented cooperation with a portfolio management agreement. Keravan Energia is a local energy company which owns a district heat and electricity grid in the Kerava and Sipoo area and sells electricity throughout Finland. Cooperation will ensure the predictability of managing electricity price risks in respect of electricity sales portfolios.

In its portfolio management, Keravan Energia has earlier used a software solution designed by IntStream, a Gasum Group company, to manage risks in the electricity market.

“We outsourced our portfolio management to Gasum because we wanted to ensure the availability of sufficient competent resources in the challenging situation of change on the electricity market. We believe that Gasum is well placed to provide the service we require,” says Johanna Haverinen, Director, Customer Relations, Keravan Energia.

Recent years have seen Gasum invest heavily in expanding its business also into the power market alongside the company’s traditional cornerstone of gas. Gasum Portfolio Services, which is responsible for portfolio management, market analysis and physical market services, is part of Gasum energy market services. Energy market services also helps companies to achieve carbon neutrality by, for example, brokering Certificates of Origin for electricity.

“This agreement with Keravan Energia shows the trust placed in Gasum’s solutions and expertise. It’s rewarding to find new opportunities for cooperation with a familiar partner,” says Tea Kiukas, Managing Director, Gasum Portfolio Services.

Gasum is a long-standing partner of Kerava Energia also in the supply of gas. Keravan Energia seeks to provide its customers with a diverse range of energy. The company withdrew from using coal back in 2001 and is investing heavily in solar power production.

A wholly-owned company of the energy company Gasum, Gasum Portfolio Services is the Finnish market leader in the provision of electricity market portfolio management services. Gasum Portfolio Services holds an authorization, granted by the Finnish Financial Supervisory Authority, under the Act on Investment Services.

More information:
 

Tea Kiukas, Director, Gasum Portfolio Services
Tel.+358 40 5888595, forename.lastname@gasum.com

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 350 employees in Finland, Norway and Sweden. The company’s revenue totaled €1,128 million in 2019. Gasum is owned by the State of Finland. www.gasum.com  

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13.05.2020

Gas filling station network expands to Järvenpää in Finland

Energy company Gasum is to build the first gas filling station in Järvenpää, in the Boogie business district. The new gas filling station will enjoy an excellent location at a traffic hub and will strengthen Gasum’s network of stations, especially in Central Uusimaa. The City of Järvenpää is striving for carbon neutrality by 2035 as part of the Resource Wisdom Järvenpää project, and the new filling station will contribute to promoting this objective. The gas filling station is expected to open by the end of 2020.

Gasum is further strengthening its gas filling station network in Southern Finland by building a filling station in the Boogie business district of Järvenpää. Järvenpää’s position as an important logistics cluster in Central Uusimaa and in the proximity of the Lahti motorway swayed the choice of filling station location. The new filling station will particularly support commuter traffic heading towards the Helsinki Metropolitan Area and Lahti.

”The station in Järvenpää will be excellently located and has clearly been one of the most anticipated. It’s good news that the station will at last become a reality. The station will provide a diverse range of services for passing traffic and will be a good addition to our existing network of stations in the neighboring areas of Hyvinkää, Riihimäki and Porvoo. We believe the station will also attract heavier-duty delivery vehicle transport,” enthuses Olli Paasio, Director, Traffic Finland, at Gasum.

The new filling station will enable drivers to fill up with compressed natural gas and biogas, which is equally suitable for passenger cars and light transport fleets, such as delivery and refuse collection vehicles. As a traffic fuel, gas is easy to use, low emission and cost effective. The filling station will enable increasingly more residents of Järvenpää as well as visitors to Järvenpää and businesses to choose more environment-friendly vehicles. Recent years have seen rapid growth in the popularity of gas cars in Finland, where the number of gas-fueled vehicles almost doubled in 2019.

Gas filling station supports Järvenpää’s environmental objectives

At the end of 2019, Järvenpää City Council adopted the Resource Wisdom Järvenpää road map, which aims to make Järvenpää carbon neutral by 2035 and a city of no-waste and sustainable consumption by 2050. Making low-emission fuels available to people in Järvenpää is an excellent way to promote these objectives.

”Resource Wisdom means promoting people’s wellbeing while reducing harmful environmental impacts. If these ambitious objectives are to be achieved, active work will be required to improve and establish ways of working. The City of Järvenpää seeks to create opportunities for low-emission mobility for residents and actors in the area. Biogas is an important addition to the ways in which everyday choices can reduce emissions in Järvenpää,” says Olli Keto-Tokoi, Director of Economic Affairs at the City of Järvenpää.

Use of environment-friendly biogas in traffic can help to cut greenhouse gas emissions originating over the lifecycle of the fuel by up to 85% compared to use of diesel, for example. Biogas is produced from biowaste from households, food waste from retail outlets and municipal sewage sludge among other things in line with circular economy principles. Cost-effective natural gas can help to reduce greenhouse gas emissions originating in traffic by up to 20% over the lifecycle of the fuel.

”We’re delighted that a site for a gas filling station was found in a business district alongside the main approach road to Järvenpää. Gasum is an excellent example of a company that supports Järvenpää’s Resource Wisdom objectives through its actions,” adds Susanna Aramo, Business Service Manager at the City of Järvenpää.

Construction planning for the project is currently under way and the station is expected to open by the end of 2020. The station will be at Diggarinkatu 8 A.

For more information, please contact

Olli Paasio, Director, Traffic Finland, Gasum
tel. +358 50 392 6477, firstname.surnamei(a)gasum.com

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 350 employees in Finland, Norway and Sweden. The company’s revenue totaled €1,128 million in 2019. Gasum is owned by the State of Finland.

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Information regarding the coronavirus epidemic (COVID-19)

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