Wärtsilä and Gasum finalise agreement to develop LNG for marine applications

30 August 2016 (Last Updated August 30th, 2016 18:30)

Wärtsilä has entered into a joint cooperation agreement with Finland’s Gasum to develop liquefied natural gas (LNG) for marine and onshore applications.

Wärtsilä has entered into a joint cooperation agreement with Finland’s Gasum to develop liquefied natural gas (LNG) for marine and onshore applications.

The deal also includes use, distribution, and service solutions for natural gas.

The collaboration will make use of the Gasum subsidiary Skangas, which is involved in the Nordic LNG market.

"This agreement with Gasum will help speed the transition to gas fuel and advance environmental sustainability."

As part of the deal, various fields, including smart power generation, operations and maintenance, as well as using LNG and liquefied biogas (LBG) as a marine fuel, will be covered.

The partnership will build LNG infrastructure in places where gas is currently unavailable.

Focus will also be given to increase sales through business development assistance.

Wärtsilä president and CEO Jaakko Eskola said: “Wärtsilä has taken a leading position in both the energy and shipping markets as a developer of advanced technology solutions that enable the practical and efficient use of natural gas fuel.

“This agreement with Gasum will help speed the transition to gas fuel and advance environmental sustainability.”

Both the companies will further share knowledge, contacts, marketing, and business development activities.

Apart from developing low-cost and efficient operation and maintenance activities, the companies will develop a market for LBG.

Wärtsilä currently provides gas value chain technology know-how, while Gasum is involved in the distribution and sale of natural gas and biogas.

Recently, Wärtsilä won a contract to provide the re-gasification system for a floating, storage, re-gasification unit (FSRU) conversion project, which will be conducted by Höegh LNG on a modern LNG vessel.


Image: Wärtsilä and Gasum representatives during the signing of the deal. Photo: courtesy of Wärtsilä.