Gasum – Acquisition of Majority Stake in Norwegian Skangass to Make Gasum the Largest LNG Operator in the Nordics

We act as lead counsel to Gasum in the acquisition of a 51% majority in
Norwegian Skangass’s liquefied natural gas (LNG) distribution operations from Lyse Corporation. The Skangass production plant in Risavika will remain in Lyse’s ownership, but a long-term delivery contract regarding the use of the unit has been made with the new joint venture. Skangass’s Öra terminal in Norway, the Lysekil terminal still under construction and the planned Gävle terminal, both in Sweden, will be transferred to the joint venture.

The acquisition, which makes Gasum the largest Nordic LNG operator, is part of Gasum’s strategy of improving the availability of competitive LNG in Finland and taking a strong position in the growing Nordic LNG market overall. The formation of the joint venture will improve the availability of LNG, creating a distribution infrastructure in the Nordic countries, and broadly benefit the present and future needs of the marine traffic, heavy duty traffic, and the industrial clients currently outside the natural gas grids.