Wärtsilä and Gasum cooperation aims at developing LNG markets
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 in brief:
Wärtsilä is a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets. 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.
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.
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%).
