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Gasum Ltd is selling its heat business and natural gas retail business to Auris Kaasunjakelu Oy in the Auris gas distribution network area. Anticipated to be completed by mid-February, the transaction is part of the Gasum strategy where the key objective is to expand the gas market based on biogas, natural gas and liquefied natural gas (LNG) in the Nordic countries.
The transaction will involve Gasum giving up the heat business and natural gas retailing within the local distribution network area of Auris Kaasunjakelu Oy. Gasum will continue to supply natural gas to its wholesale customers, including Auris Kaasunjakelu Oy and other distributors of gas in Finland. Gasum’s current biogas customers will remain as Gasum customers, and Gasum will continue the development of the biogas market by offering biogas both directly to distribution customers and via distribution sales companies. Giving up natural gas retailing will clarify Gasum’s position in the Finnish gas market, which will undergo changes following the coming reform of the Natural Gas Market Act.
”This transaction is part of the Gasum strategy and enables us to focus on providing an even better and more comprehensive service to our biogas, natural gas and LNG customers in industry, road and maritime transport and waste management,” says Gasum CEO Johanna Lamminen.
”Auris Kaasunjakelu is buying Gasum’s natural gas retail business and heat business in its network area. Both business operations will take place via subsidiaries separate from gas distribution. Auris is investing strongly in natural gas and biogas sales and the development of heat solutions. Auris believes in the competitiveness of natural gas as well as biogas as clean fuels that are superior choices for many purposes,” says Auris Kaasunjakelu Managing Director Mika Paloranta.
Auris Kaasunjakelu Oy owns and operates gas distribution networks in 13 areas in Finland and is committed to the development of the business functions acquired by it as well as the local distribution of gas. The company was founded in June 2015 following the sale of the shares of Gasum Paikallisjakelu Oy and Helsingin Kaupunkikaasu Oy by Gasum to the investment company SL Capital Partners, a subsidiary of the UK firm, Standard Life Investments.
For further information please contact:
Johanna Lamminen, Chief Executive Officer, Gasum
Phone: +358 20 44 78 661 (Henna Walker, Executive Assistant)
Mika Paloranta, Managing Director, Auris Kaasunjakelu Oy
Phone +358 40 358 2598 (Laura Piipari, Specialist)email@example.com
Olga Väisänen, Vice President, Communications, Gasum
Phone +358 20 44 78 628