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    Gasum Profits Stable In H1

Summary

Gasum and several partners launched a new LNG import terminal in Tornio last month.

by: Joseph Murphy

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Natural Gas & LNG News, Europe, Liquified Natural Gas (LNG), Corporate, Import/Export, Financials, Supply/Demand, Infrastructure, News By Country, Finland

Gasum Profits Stable In H1

Finnish gas firm Gasum’s operating profit was flat in first half of the year, compared with HI 2018, totalling €76.3mn ($85.6mn), the company said in a report published July 16. Revenues were up 6% at €632.5mn ($710mn), it said, noting that results were in line with expectations.

Gasum serves as Finland’s gas transmission system operator (TSO). It also imports and sells gas, and is involved in biogas processing and generation.

“Demand for cleaner energy solutions is showing strong growth in industry and total gas sales volumes are projected to further increase,” company CEO Johanna Lamminen said. “As a low emission fuel, the role of gas will increase in the future, above all in maritime transport and heavy-duty road transport as action to curb climate change calls for a transition to cleaner solutions.

Gasum and several Finnish partners commissioned a new LNG import terminal in Tornio last month – a project which the company said was a response to growing demand for LNG in the Nordic region.