Shell to buy remainder of Norwegian LNG fuel supplier Gasnor

Anglo-Dutch Shell has agreed to acquire the 95.9% of Norwegian small-scale LNG supplier Gasnor it does not own for NOK455.5 million ($74 million), the company said Wednesday.

Shell currently owns 4.1% of Gasnor. Subject to Norwegian regulatory approval, the deal is expected to be closed in the third quarter this year.

Gasnor supplies LNG as fuel to industrial and marine customers, and operates an end-to-end supply chain, with three small-scale production plants and distribution assets, including two tankers, a fleet of trucks and a network of terminals.

"The acquisition of Gasnor is an important step for Shell towards creating an LNG sales business," the company said.

"Shell believes the LNG in transport sector will develop into a sizeable market and given its industry leading expertise across the LNG value chain, the extension into this market is a good fit for Shell," said Colin Abraham, Shell's vice president for downstream LNG. "The Gasnor acquisition provides Shell with invaluable customer and market insight built up over a number of years. This will help us to quickly develop and meet customer requirements for LNG as a transport fuel."

Shell said it hoped the acquisition would enable it to capitalize on Gasnor's experience in LNG sales and marketing, and combine it with its own reach to target European marine customers ahead of new environmental regulations that come into force from 2015. The regulations will apply across the Baltic Sea, English Channel and North Sea, and will require lower levels of emissions such as sulfur and nitrogen oxides.

Associated companies:


Related news

Latest news

Jotne Subsea Gas Lift for Balder Field

In April 2015, Jotne E&P was awarded an EPC contract to build the subsea gas lift manifold for Exxon Mobil on the Balder Field.

Jotne Awarded Contract for Subsea Protection Structure

In January 2016, Jotne E&P was awarded a contract for the delivery of a subsea protection structure and GRP cover for a Xmas tree at Balder field. The contract was awarded by Ocean Installer.

UiB and CMR in high-tech collaboration

Students from UiB last month joined an experiment with an ultra-high-speed camera. This was a part of the troubleshooting of the Field Kelvin Probe currently under development.

Hatteland Display at International Workboat Show 2016

Hatteland Display are highlighting its diverse portfolio of maritime displays and panel computers on its booth (#1658) at the International Workboat Show 2016 (IWBS 2016) this week.

Servogear Announces Upcoming Events

Servogear announces a busy end of November, beginning of December. They will be participating at important international exhibitions.

Teamtec and ANDRITZ Cooperation

ANDRITZ and TeamTec have signed a cooperation agreement for worldwide marketing of the SeaSOx exhaust gas cleaning system for the maritime industry. 

Export Credit Norway looking for Norway's Best Exporter

Export Credit Norway  has now opened the nomination process for the 2017 Export Award, searching the Norwegian exporter of the year. 

Global Economic Outlook

7 December, Oslo Chamber of Commerce invites to a session with insightful updates on the Norwegian and international economy.

Rebuilding for Hydrogen

M/Y “Che Guevara”, previously owned by Gaddafi, will be converted to run on hydrogen. Greenstat will lead the project and are seeking partners.