LNG

Elenger, the largest privately owned energy company in the Finnish-Baltic region, said it received the first US liquefied natural gas cargo onboard the tanker “Vivit Americas LNG” with 174,000 cubic metres capacity to arrive at the port of Inkoo in Finland.

“We are one of the few energy companies in the region to procure gas directly from Western sources, this allows us to offer our customers greater security and better prices, and has significantly increased our market share in Finland and the Baltic countries over the past year," said Pasi Näkki, Chief Executive of Elenger Suomi in Finland.

Elenger had previously used the port of Klaipeda in Lithuania to bring LNG from the US and from Norway and now the firm has started cooperating with the Inkoo floating import terminal.

Elenger has signed agreements with LNG terminals to deliver a total of 10 cargoes by the start of the winter season this year.

Three deliveries have already arrived in Lithuania's Klaipeda port in January and March 2023 from the US and Norway, and a total of seven deliveries will arrive in Finland's Inkoo port in the spring and summer.

Cargoes procured

“Last year, Elenger procured five large shiploads of gas for its customers through the port of Klaipeda,” said the company.

Elenger offers customers natural gas in the form of pipeline gas, LNG and compressed natural gas.

The company is also developing a renewable energy portfolio in the form of solar energy and biomethane production and sales.

Elenger operates in Finland, the Baltic states and Poland and the group has a total of 50,000 customers.

Elenger in the market in the Baltic state of Estonia it is known under the Eesti Gaas brand name.

“Vitol is delighted to deliver the first LNG cargo to Elenger via Finland’s Inkoo terminal,” said Pablo Galante Escobar, Head of LNG and European Gas and Power at global commodities firm Vitol.

“The opening of the terminal will enhance energy security in Finland and the Baltic region, facilitating the flow of LNG from around the world to European industry and consumers,” Escobar added.

The cargo originated from Vitol’s portfolio of US LNG, specifically the Venture Global Calcasieu Pass facility in Louisiana.

Vitol has a global LNG portfolio with long-term sourcing contracts from producers in the US, the Middle East, Africa and Asia.

In 2022 Vitol traded over 17.5 million tonnes of LNG with around 67 percent of this volume being supplied to Europe.  

Gasum, the Nordic LNG distributor owned by the state of Finland, said it continued to develop as a company over the past year marked by parliamentary elections in Finland and the European Union where climate change and the energy sector were at the centre of debate.

“The importance of biogas and the circular economy as part of solutions to the acute challenges relating to climate was emphasized after the elections, and the role played by gas is now increasing in Finland as well as other countries such as Sweden,” said Johanna Lamminen, Chief Executive of Gasum in her annual review.

Gasum said that LNG and biogas were being targeted at those sectors where emission rates were highest, namely road and maritime transport and industry.

“Last year was a year of huge leaps of change for Gasum,” said Lamminen.

“For several years, we have been building Gasum into an energy company making it possible for our customers to access cleaner energy on land and at sea,” she stated.

Fully owned by the state of Finland, Gasum has LNG import assets in Finland and Sweden and LNG liquefaction as well as marine bunkering services through its former Skangas business, now integrated and operating  under the Gasum banner.

The company’s strategy includes an expansion to provide 50 LNG fuel stations by the early 2020s for Nordic transportation companies in Finland, Sweden and Norway.

“Our strategy of focusing on the development of the Nordic gas market and energy infrastructure is being implemented at a great pace,” added the CEO.

She reiterated that the Group’s revenue totaled €1.12 billion ($1.28Bln), down 4.2 percent compared with 2018.

“The decline in revenue was caused primarily by the development in the sales price of gas. Our operating profit was €141.4 million, up 13.9 percent year on year,” she added.

Gasum also concluded the acquisition of the energy industry expert company Enegia to be better positioned among energy market service providers.

“We also announced our acquisition of AGA’s Clean Energy business and Nauticor’s Marine Bunkering business from Linde AG last year,” said Lamminen.

“Once completed, the transaction will create a platform for an even broader offering of low-emission energy solutions in response to growing demand among industrial, maritime and road transport customers,” she added.

In other restructuring, Gasum sold its subsidiary Gasum Tekniikka Oy to the industrial maintenance partner Viafin Service Oyj, which has continued the active development of gas-sector maintenance services.

Gasum continues to build its LNG bunkering business and carried out its 200 ship-to-ship operation in January 2020 as maritime use of the fuel gathers pace in northwest Europe.

The board of directors of Gasum has also been slightly changed with two new members appointed and two others stepping down.

The current members of the Board are Stein Dale, Elina Engman, Päivi Pesola, Elisabet Salander Björklund and Torbjörn Holmström. They were re-elected at the annual meeting.

“Minna Pajumaa and Ari Vanhanen were elected as new members of the Gasum Board and Elina Engman was elected as the Chair,” said Gasum.

Juha Rantanen had previously served as the Chairman of the Gasum Supervisory Board during 2014-2016 and as the Chairman of the Gasum Board of Directors from 2016-2020. 

Another member of the board and supervisory board since 2010, Jarmo Väisänen was no longer available when Board members were elected this time.

Elected to the board as a new member, Senior Financial Counsellor Minna Pajumaa works in the Ownership Steering Department of the Finnish Prime Minister’s Office. 

Also elected to the board as a new member, Ari Vanhanen, is the CEO and a board member of Colliers International Finland Ltd.