Nordic natural gas company Gasum of Finland, the region’s biggest distributor of LNG, aims to change its strategy in the next five years to concentrate operations on biogas made from waste and the electricity business.
Gasum, the Finnish state-owned LNG distribution company and regasification and liquefaction infrastructure owner in the Nordic region, posted an annual net loss and lower revenues while expanding its operations.
The Finnish gas market has opened up to competition with a wholesale market for pipeline natural gas after the transmission network was unbundled from LNG and gas firm Gasum.
Gasum, the natural gas network company in Finland and a leading Nordic liquefied natural gas supplier, reported nine-month earnings down by 7.2 percent as its clean energy policies proved to be slow in growing profits as it also prepared for the opening up of the market with the spinning off of a new company called Gasgrid Finland.