6.4.2016

Gasum and Skangas – Acquisition of the Risavika LNG production plant in Norway from Lyse Group

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We act as lead counsel to Gasum and its subsidiary Skangas in their acquisition of the Risavika LNG production plant in Norway from Lyse Group.

Gasum acquired the majority of Skangas’ LNG distribution operations from the Lyse Group in 2014, with the transaction including a purchase option for the Risavika LNG production plant. The acquisition was part of Gasum’s strategy to improve the availability of competitive LNG in the Nordic countries. Under the tolling agreement signed in 2014, Gasum and Skangas already bought the full annual capacity of the Risavika LNG plant. The current acquisition of the plant finalises the overall acquisition of Skangas and will strengthen Skangas’ presence in the downstream LNG value chain and secure Skangas’ commercial position in the Norwegian market and the North Sea.

The acquisition agreement was signed on 17 March 2016. The acquisition of the Risavika LNG production plant is subject to approval by competition authorities in Sweden and Norway.

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