Would you like to download print-ready images or get more information?
Revenue €925 million, up 10% year on year (2016: €843 million)
Sales of Natural Gas business 22.3 TWh (23.8 TWh)
Sales of LNG business 6.1 TWh (5.8 TWh)
Sales of Biogas business 547.7 GWh (233.9 GWh)
Operating profit €114 million (2016: €125 million)
Gasum Group CEO Johanna Lamminen comments on 2017:
”In 2017 we expanded our gas market in line with our strategy on land and at sea. Gas plays an important role in the Nordic energy market and in the transition towards a carbon-neutral society. Our Group’s financial performance developed as expected.
According to the European Commission’s estimate, the role of natural gas as a key energy source will be strengthened in the next decades. Natural gas enables significant emission reductions in comparison with coal and oil. Natural gas also supports the transition to renewable energy as it serves as backup power for renewable production in electricity generation. Investments in gas are always investments in the future as the same infrastructure can be used for the distribution of biogas and liquefied biogas as well as for the storage of renewable electricity.
We took major steps towards a cleaner tomorrow during the year. At the beginning of 2017, we acquired Swedish Biogas International, which made us the biggest biogas producer in the Nordic countries. We also increased our ownership in the leading LNG company, Skangas, to 70%. The MangaLNG terminal constructed as a joint project is nearing completion, and we provided the terminal and the Northern energy market with the first shipload of LNG.
We also strengthened our gas filling station network by opening several new stations for cars and heavy-duty vehicles in Finland. We also launched the expansion of the heavy-duty vehicle filling station network into the Nordics in Sweden and Norway.
Finland’s new Natural Gas Market Act entered into force in January but will not have any major impacts on the functioning of the gas market at this point. The new Act will reduce regulation of natural gas wholesale and retail operations and, to a large extent, abolish special regulation concerning pricing. The Finnish gas market will be opened at the beginning of 2020.”
Please read the Q4 Financial statements bulletin >
For further information please contact:
Johanna Lamminen, Chief Executive Officer, Gasum
Phone: +358 20 44 78 661
(Henna Walker, Executive Assistant)
GASUM IN BRIEF
The energy company Gasum is a Nordic gas sector expert that together with its partners is building a bridge towards a carbon-neutral society on land and at sea. Gasum imports natural gas to Finland and promotes the circular economy by processing waste and producing biogas and recycled nutrients in Finland and Sweden. The company offers energy to heat and power production, industry and road and maritime transport. Gasum is the leading supplier of biogas in the Nordic countries. The company has gas filling stations in Finland, with some of these serving heavy-duty vehicles. The Gasum subsidiary Skangas is the leading liquefied natural gas (LNG) player in the Nordic market. The company continues to strengthen the position and infrastructure of LNG and supplies LNG to maritime transport, industry and heavy-duty vehicles in Finland, Sweden and Norway.