Gasum’s LNG sales drop in first nine months, 2016

Gasum of Finland, reported a net profit of €67.1 million for the first nine months of 2016, reporting LNG sales of 3.9 TWh, down on €104.3 million and 4.2 TWh, respectively, in 2015. 

The group’s revenue also dropped, reaching €589 million for the first nine months, 16 percent down compared to the €702 million during the corresponding period in 2015. The drop in revenue was affected by the decrease in the sales price of natural gas, Gasum said in its report.

The company expects LNG sales volumes to remain close to the 2015 level.

Johanna Lamminen, Gasum CEO, said the company has made strategic steps forward during the period under review, commissioning the LNG terminal in Pori that started deliveries to customers in September.

Progress in the construction of the Tornio Manga LNG joint project is also being made as planned, and the terminal will be completed in Tornio in early 2018.

Gasum intends to focus on the developing the use of liquefied natural gas as industrial, maritime transport and heavy-duty vehicle fuel.

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