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Gasum Oy
Company typeLimited company (Oy)
IndustryOil and gas
Founded1994 (1994)
Headquarters
Espoo
,
Finland
Area served
Finland, Sweden, Norway, Germany, France, Germany, Europe, ARA-region, Singapore
Key people
Mika Wiljanen (CEO)
Elina Engman (Chairman of the Board)
ProductsBiogas
Natural gas
LNG
Organic fertilizers
Wind power
ServicesEnergy market services
Bunkering services
Processing of biodegradable waste
Circular economy solutions
Revenue€1,571 million (2021)[1]
€-84.4 million (2021)[1]
OwnerGasonia Oy (state-owned holding company, 73.5%)
Finnish Government (26.5%)
Number of employees
330 (2021)[2]
DivisionsMaritime, traffic, industry
SubsidiariesGasum AB
Websitewww.gasum.com

Gasum Oy is a Finnish state-owned energy company operating in the Nordics. Gasum owns 17 biogas refineries in Finland and Sweden, and is the largest processor of biodegradable waste in the Nordic countries.[3] In addition, Gasum sells wind power and provides various energy market services. It is in the process of building a gas filling station network that will also serve heavy-duty vehicles.[citation needed]

History

The first natural gas pipeline from the Soviet Union to Finland was opened in 1974.[4] From 1974 to 1994, Neste Oy was responsible for the import, transmission services, and wholesale of natural gas in Finland. Gasum was established in 1994 as a joint venture between Neste (75%) and Gazprom (25%).[5]

After the merger of Neste and Imatran Voima in 1998, the newly created company Fortum had to reduce its stake in Gasum to 25%. As a result, the government of Finland (24%), E.ON (20%) and Finnish forest companies (6%) became new shareholders. In 2004, Fortum acquired the 6% stake from the forest companies.[6] In 2015, Fortum and E.ON sold their stake to the Finnish government.[7] In 2016, Gazprom sold its stake to the Finnish government which became the sole shareholder of the company.[8]

In 2014, Gasum acquired 51% of Skangas from Lyse Energi and increased its ownership to 100% in 2018.[9] Skangas started their LNG business in 2011. In 2018, Gasum built Finland's first liquefied natural gas (LNG) terminal at the oil and chemical harbor of the port of Tahkoluoto in Pori.

Gasum expanded into the Swedish market in 2016 by acquiring Swedish Biogas International. After the deal, Gasum became the largest biogas producer in the Nordic countries. In April 2020, Gasum acquired Linde AG's LNG and biogas business in Sweden and Norway and Nauticor's marine bunkering business in Germany.[10] The LNG terminals in Nynäshamn in Sweden and the bunkering vessels Seagas and Kairos, were transferred to Gasum.

Gasum planned to build a subsea gas pipeline Balticconnector to connect Finland with the Estonian gas system and further with a gas storage in Latvia.[11][12] In October 2015, Gasum abandoned the project due to commercial viability.[13] It was replaced in the project by the Finnish state-owned company Baltic Connector Oy.[14]

Before 2020, Gasum owned 1,190 km (740 mi) of gas transmission network in Finland. According to the Natural Gas Market Act of Finland, gas transmission operations were unbundled to another state-owned company Gasgrid Finland Oy, as of 1 January 2020.[15] Starting from 1 January 2020, its subsidiary, Kaasupörssi Oy, which operated Finland's gas exchange, was closed and all trading moved to the regional GET Baltic exchange.[16]

In 2020, the company entered into partnership with Pavilion Energy, Singapore.[17]

Operations

Biogas and natural gas

Gasum imports and sells natural gas, including liquefied natural gas (LNG). In 2011, Gasum started biogas production by using anaerobic digestion.[18] Gasum owns biogas plants in Finland and in Sweden. The company produces fertilizer products and nutrients along with biogas.[citation needed]

Gasum offers LBG and LNG bunkering service in terminals located in Norway (Risavika, Øra), Sweden (Lysekil and Nynäshamn) and Finland (Pori and Tornio). In addition to the Nordic countries, it provides bunkering services in the Antwerp, Rotterdam and Amsterdam region, in Germany, and in partnership with Pavilion Energy in Singapore. Despite the ongoing war in Ukraine, Gasom decided to continue purchasing gas from Russia.[citation needed]

Filling stations

Gasum has around 100 gas filling stations in the Nordic countries.[19]

Energy market services

Gasum offers energy market expert services. It is also a member of the Nordic power exchange of Nasdaq OMX.[20]

Corporate details

Management

Since 2022, the chief executive officer is Mika Viljanen and the chair of the board is Elina Engman since 2020.[21]

Affiliations

Gasum is involved in several international organizations, such as Eurogas, European Network of Transmission System Operators for Gas (ENTSOG), Gas Infrastructure Europe (GIE), International Gas Union (IGU), European Gas Research Group (GERG) and the European Pipeline Research Group (EPRG).[citation needed]

Gallery

See also

References

  1. ^ a b "Gasum's Financial Review 2021" (PDF). Gasum. 29 April 2022.
  2. ^ "Gasum Taloudellinen katsaus 2021" (PDF). Gasum. 29 April 2022.
  3. ^ "Gasum becomes the biggest in the Nordics". Good news to Finland. August 2019. Archived from the original on 30 October 2019. Retrieved 21 November 2019.
  4. ^ Käyhkö, Tuija (15 January 2004). "Kekkonen runnoi maakaasun Suomeen" [Kekkonen supplies natural gas to Finland]. Tekniikka & Talous (in Finnish). Retrieved 28 August 2019.
  5. ^ "Gasum Annual Report, page 52" (PDF). Archived from the original (PDF) on 1 September 2011. Retrieved 12 September 2011.
  6. ^ "Mergers: Commission decides to allow Fortum to increase its shareholding in Gasum in the Finnish energy sector" (Press release). European Commission. 1 December 2004. Retrieved 6 July 2015.
  7. ^ Rosendahl, Jussi (19 March 2015). "Finland buys Gasum stakes from Fortum and E.ON". Reuters. Retrieved 6 July 2015.
  8. ^ "Finland buys out Russian share in gas firm Gasum". Yle Uutiset. 18 December 2015. Retrieved 21 December 2018.
  9. ^ "Gasum secures full ownership of Skangas". LNG World News. 10 October 2018. Retrieved 22 October 2018.
  10. ^ "Gasum takes steps forward in its growth strategy by acquiring AGA's Clean Energy business and Nauticor's Marine Bunkering business from Linde AG" (Press release). Gasum. 14 November 2019. Retrieved 20 May 2021 – via Hellenic Shipping News.
  11. ^ Torma, Sami (31 May 2007). "Gasum proposes gas pipeline". Reuters. Retrieved 26 March 2012.
  12. ^ "Finns plan new subsea gas link". Upstream Online. NHST Media Group. 31 May 2007. (subscription required). Retrieved 13 October 2007.
  13. ^ "Gasum Dumps Balticconnector Plan". Subsea World News. 6 October 2015. Retrieved 24 November 2015.
  14. ^ "Elering with its Finnish partner submits grant application to EU Commission". The Baltic Course. 15 October 2015. Retrieved 24 November 2015.
  15. ^ "Finland's Gasum will divest gas transmission ops by 2020, expand in LNG and biogas – Mr Haikarainen". SteelGuru. 26 December 2017. Retrieved 28 August 2019.
  16. ^ "Finnish gas exchange to shut, trading moves to Baltic bourse from 2020". S&P Global Platts. 30 August 2019. Retrieved 2 January 2020.
  17. ^ "Pavilion Energy and Gasum partner for LNG bunker supply". Ship Technology.
  18. ^ "Gasum biogas from the forests-proschure 2011" (PDF). Archived from the original (PDF) on 3 March 2016. Retrieved 20 May 2021.
  19. ^ "Gasum gas filling stations in Nordic". Gasum webinformation. 12 November 2020.
  20. ^ "Gasum's role as Nordic energy company strengthened by Nasdaq Nordic Commodities membership" (Press release). 10 February 2020. Retrieved 18 May 2021.
  21. ^ "Gasum Governance and Remuneration report 2020" (PDF). Gasum. 1 May 2021.

External links

Finnish government enterprises
Categories