Gasum Divested LNG Liquefaction Plant in Risavika to NSMP

Source: www.gulfoilandgas.com 11/2/2021, Location: Europe

The energy company Gasum has entered into an agreement with North Sea Midstream Partners for the divestment of the LNG liquefaction plant in Risavika, while they, through a long-term agreement, continue to make significant withdrawals of the LNG and LBG produced in the plant. The transaction is in line with Gasum's growth strategy and the LNG market, which is developing rapidly.

“Gasum has concluded that owning this type of LNG asset is no longer part of our core strategy. However, the long-term contract ensures that we continue to supply liquefied natural gas (LNG) and liquefied biogas (LBG) to our customers from the plant in Risavika also in the future. The divestment of Risavika enables us to optimize our capital allocation and accelerate the implementation of our growth strategy and expand the Nordic market, ”says Kai Laitinen , Interim CEO, Gasum.

North Sea Midstream Partners (NSMP) is a leading independent energy infrastructure company with large-scale assets in gas infrastructure serving the North Sea.

“The acquisition is a strategic step for NSMP. The liquefaction plant in Risavika is an attractive addition and a geographical expansion for NSMP that diversifies our portfolio and expands our platform for growth. We look forward to building a long-term partnership with Gasum, which will remain an important customer for the liquefaction plant in Risavika through a long-term agreement. We will work closely with Gasum and the staff in Risavika to ensure a secure transfer of operations, ”adds Andy Heppe l, CEO of North Sea Midstream Partners.

The agreement between Gasum and North Sea Midstream Partners was signed on November 1, 2021. The intention is for the deal to be completed in mid-November 2021. As part of the deal, Gasum will continue to make significant withdrawals of the LNG and LBG produced in Risavika under a long-term agreement. . The separate bunkering solution in the area for customers in shipping is not included in the deal.

Both parties have chosen not to disclose the purchase price.


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