Wärtsilä and Gasum cooperation aims at developing LNG markets

Wärtsilä Corporation, Press release, 29 August 2016 at 12.30 pm EET

Wärtsilä and Finland based Gasum have signed a joint cooperation agreement aimed at developing the use, distribution, and service solutions for Natural Gas in marine and onshore applications. The agreement was signed in Helsinki today, 29 August 2016. Wärtsilä provides the gas value chain technology know-how, while Gasum has the expertise in distributing and selling natural gas and biogas. The development work regarding liquefied natural gas (LNG) for marine applications will also utilize the expertise of Gasum subsidiary Skangas, the leading LNG player in the Nordic market.

Natural gas fuel is increasingly being used for marine engines and in power plant generators, primarily for reasons of environmental compliance. Exhaust emissions from gas fuelled engines are notably lower than from diesel and coal-fired prime movers.

The project will be divided into work streams, covering areas such as Smart Power Generation, LNG and liquefied biogas (LBG), gas as a marine fuel, operations & maintenance, and biogas. The work will focus on increasing sales through business development cooperation, and building an LNG infrastructure in places where gas is currently not available. The companies will share know-how, contacts, marketing, and business development activities. They will also work together to develop cost-effective and efficient operation and maintenance activities. The development of liquefied biogas (LBG) markets is another important objective of the cooperation.

By improving the availability of LNG, the present and future needs of both the shipping sector and industrial clients currently outside the natural gas grids will be served. At the same time, LNG utilisation also allows for the use of LBG without additional investment since the same infrastructure can be used for both.

"Wärtsilä has taken a leading position in both the energy and shipping markets as a developer of advanced technology solutions that enable the practical and efficient use of natural gas fuel. This agreement with Gasum will help speed the transition to gas fuel and advance environmental sustainability," says Wärtsilä President and CEO, Jaakko Eskola.

"I'm very pleased with the joint co-operation agreement as we're able to improve access to natural gas solutions as efficient and clean energy alternatives in the marine and land markets," says Gasum CEO and Chair of the Skangas Board of Directors, Johanna Lamminen.

Photos from the signing ceremony
Image of Wärtsilä LNG Gas Value Chain

Media contacts:

Mr Timo Koponen
Vice President, Flow & Gas Solutions
Wärtsilä Marine Solutions
Tel: +44 1202 662600
timo.koponen@wartsila.com

Ms Marit Holmlund-Sund
Senior Manager Marketing, Communications, Marine Solutions
Wärtsilä Corporation
Tel: +358 10 709 1439
marit.holmlund-sund@wartsila.com

Wärtsilä in brief:
Wärtsilä is a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation and total efficiency, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers.
In 2015, Wärtsilä's net sales totalled EUR 5 billion with approximately 18,800 employees. The company has operations in over 200 locations in more than 70 countries around the world. Wärtsilä is listed on Nasdaq Helsinki.
www.wartsila.com

Gasum in brief:
The energy company Gasum is a Finnish gas sector (natural gas and biogas) expert that is building a bridge to a carbon-neutral society on land and at sea. Gasum contributes to the creation of a sustainable energy economy by increasing the supply of Finnish biogas, developing the Nordic gas ecosystem and ensuring the price competitiveness of gas. Gasum imports natural gas to Finland, upgrades biogas and transmits and delivers these for a broad range of uses in energy production, industry, homes, and land and maritime transport. Gasum is the leading supplier of biogas in Finland. It injects biogas into the gas network from Espoo, Kouvola and Lahti, and from 2016 onwards also from Riihimäki. The Gasum subsidiary Skangas is a Nordic expert in liquefied natural gas (LNG) that will continue to strengthen the position and infrastructure of LNG and the utilization of new gas solutions more extensively in Finland, Sweden and Norway. Skangas has LNG terminals in Øra, Norway, and Lysekil, Sweden. Finland's first LNG import terminal will be completed in Pori in 2016. The Gasum Group has around 300 employees in Finland, Norway and Sweden. The company's revenue totaled €915 million in 2015. 'CLEANLY WITH NATURAL ENERGY GASES' - www.gasum.com
The LNG company Skangas is the leading player in the Nordic LNG market. The company supplies LNG for shipping, industrial and heavy road transport needs. We help our customers reach their environmental and operational targets by offering efficient and stable LNG deliveries. Skangas is a subsidiary of the Finnish natural energy gas expert Gasum Ltd, and its shareholders are Gasum Ltd (51%) and the Norwegian Lyse Energi AS (49%). www.skangas.com