Looking for a specific product?

Make a search for products & suppliers, articles & news.

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

SAR Celebrates 2nd anniversary in Kuwait

SAR Celebrates 2nd anniversary of operation in Kuwait.

SAR AS Celebrates 30 years of operation!

The history of SAR goes 50 years back to the late 1960s with the company Septik Tank Co. 

Ready to conquer the world with Hansen Protection Helicopter pilot suits

In 2017, for the first time in the history of helicopter sport, the World Cup in Helicopter Races is going to be held. It is going to take place in 7 countries, and starts on Friday April 7th in Konakovo, Russia.

SeaBass Fisherman's Work / Flotation Suit

SeaBass is a waterproof, buoyant work suit for anyone working on or around water.

Improved Surface Rescue Preparedness can Save Lives

A significant part of the Norwegian fire and rescue services lack good apparel for use in surface rescue operations. This can mean the loss of valuable time in rescue operations in water, and experts now call for a change ...

Historical contract for Norwater AS!

The excitement was at its height at Norwater AS in Høylandsbygd on Wednesday last week. The company signed its biggest contract in history, in strong competition with both Norwegian and foreign competitors. The order book ...

Export Credit Norway Finances Production of Ready-to-use Therapeutic Foods in South Africa

Since being founded in 1948, the Norwegian company GC Rieber Compact has developed into a leading supplier of ready-to-use therapeutic foods to customers such as Doctors Without Borders, the Red Cross, the World Food Progr...

Peru Corporate Day

On 26th September, Oslo Chamber of Commerce will for the first time receive a technological business delegation from Peru to Norway, led by PROMPERÚ.

New contract for delivery of Servogear CPP

The Servogear installation includes CPP propellers,