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The State of Finland has acquired OAO Gazprom’s 25% shareholding in Gasum. The transaction raises the State’s ownership in Gasum to 100%. Gas plays an important role in the Finnish energy palette and enables a cost-efficient transition to a carbon-neutral society. Biogas and liquefied natural gas (LNG) also provide access to the benefits of gas to those outside the gas pipeline network.
The State of Finland and Gazprom have signed an agreement under which Gazprom's shareholding in Gasum is transferred to the State of Finland. Prior to this arrangement, the State-owned Gasonia Oy held 75% of Gasum’s shares. The transaction raises the State's ownership in Gasum to 100%.
Gasum is actively building a gas ecosystem based on natural gas, Finnish biogas and LNG in Finland and the Nordic countries. With biogas and LNG, resource-wise and competitive gas solutions are also accessible outside the gas pipeline network.
Gas plays a key role in Finnish industry as well as in combined heat and power (CHP) production, which is dependent on energy-efficient gas. Compared with coal, the rate of emissions from natural gas use is more than 40% lower, while the switch from heavy fuel oil to LNG results in a 25% reduction in emissions. Gas is also gaining a bigger role in land and maritime transport: the use of LNG as a fuel helps cut carbon dioxide emissions by around a quarter in comparison with heavy fuel oil, and with biogas the emission reduction is up to 97%.
Gasum is investing strongly in the development of biogas production and the biogas market: the production potential of 100% Finnish biogas made from biodegradable waste already covers more than half of the current use of natural gas. The natural gas and LNG distribution networks are suitable for biogas without any amendments.
”It is great that the State of Finland demonstrates its strong commitment to the development of the Finnish gas market with this transaction. The range and availability of competitive and sustainable gas solutions throughout the Nordic countries is diversified further by biogas and LNG. As low-carbon energy forms, gas solutions play a key role on the journey toward a carbon-neutral society,” says Gasum CEO Johanna Lamminen.
For further information please contact:
For queries and interview requests please phone +358 20 44 78 661 (Henna Walker, Executive Assistant)
Johanna Lamminen, Chief Executive Officer, Gasum
Phone: +358 20 44 78 661 (Henna Walker, Executive Assistant)
Olga Väisänen, Vice President, Communications, Gasum
Phone: +358 20 44 78 628, firstname.surname(a)gasum.fi