Gasum wraps up Risavika LNG sale

Gasum said it has completed the recently announced sale of the Risavika liquefaction plant in Norway to North Sea Midstream Partners.

The Finland-based firm said in a statement that the duo has completed the deal on November 16.

It did not reveal the price tag of the deal.

In addition, the companies have also agreed on an “extensive” tolling agreement under which Gasum would continue to ensure deliveries of LNG and liquefied biogas (LBG) to its customers from the liquefaction plant, Gasum said.

“The transaction will allow us to ensure deliveries of liquefied gas to our customers in the same way as earlier. We want to optimize our capital allocation to speed up the execution of our growth strategy,” Gasum’s interim CEO Kai Laitinen, said.

The LNG plant in Risavika, Sola municipality, has a production capacity of 300,000 tonnes LNG per year.

It also features an LNG bunkering facility for marine customers linked to the plant as well as a 28,000-cbm LNG tank.

Gasum said the bunkering solution is not included in the transaction scope.

The facility gets natural gas via a subsea pipeline system from the Karsto processing plant in Northern Rogaland.

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