Gasum's position strengthened as the leading LNG provider in the nordic countries and developer of the nordic gas ecosystem
GASUM GROUP INTERIM REPORT FOR JANUARY 1 TO JUNE 30, 2017:
Revenue €506 million (H1 2016: €445 million)
Operating profit €66 million (H1 2016: €68 million)
Sales of Natural Gas business 12.5 TWh (13.2 TWh)
Sales of LNG business 3.1 TWh (2.7 TWh)
Sales of Biogas business 287 GWh (114 GWh)
Gasum CEO Johanna Lamminen comments on the period under review:
"During the period under review, Gasum strengthened its position as the leading provider of liquefied natural gas (LNG) in the Nordic countries by increasing its shareholding in Skangas to 70%. Developing the Nordic gas ecosystem is a key element of Gasum’s strategy, and LNG in particular will play an increasingly important role in the Nordic gas market in the future. The significance of LNG in the Baltic Sea and the Nordic countries is increasing rapidly, particularly in maritime transport, heavy-duty road transport and industrial use.
In Gasum's Biogas business, there was a special focus on biogas as a road vehicle fuel. Gasum opened new filling stations and launched a campaign offering Finnish biogas for cars at a fixed monthly price. In June, filling stations were opened in Hämeenlinna and Pori, and during the summer stations will also be opened in Vantaa (Petikko) and Jyväskylä. Finland's National Energy and Climate Strategy sets the target of raising the number of gas vehicles to 50,000 by 2030. Gasum has taken on this challenge and is determined to develop the market actively in order for this target to be reached on schedule.
The government proposal for Finland’s new Natural Gas Market Act was published in May 2017, and the bill proposed was passed by Parliament in June. The new Natural Gas Market Act will enter into force on January 1, 2018 and result in the opening up of the Finnish natural gas wholesale and retail markets to competition in 2020. Gasum regards it as essential to create, together with customers, models for the transition to an open market that will best serve Finnish gas users."
Read Q2 -interim report >
For further information please contact:
Johanna Lamminen, Chief Executive Officer, Gasum
Phone: +358 20 44 78 661 (Henna Walker, Executive Assistant)
The energy company Gasum is a Nordic gas sector (natural gas and biogas) expert that is building a bridge to a carbon-neutral society on land and at sea. Gasum contributes to the creation of a sustainable energy economy by increasing the supply of local biogas, developing the Nordic gas ecosystem and ensuring the price competitiveness of gas. Gasum imports natural gas to Finland, upgrades biogas and transmits and delivers these for a broad range of uses in energy production, industry, homes, and land and maritime transport. Gasum is the leading supplier of biogas in the Nordic countries. The Gasum subsidiary Skangas is a Nordic expert in liquefied natural gas (LNG) that will continue to strengthen the position and infrastructure of LNG and the utilization of new gas solutions more extensively in Finland, Sweden and Norway. The Gasum Group has more than 400 employees in Finland, Norway and Sweden. The Gasum Group’s revenue totaled €843 million in 2016.