Lyse establishes joint venture with Gasum

Avance advices Norwegian Lyse Corporation as Finnish counsel in the liquefied natural gas (LNG) joint venture arrangement with Gasum. In the arrangement, Gasum will acquire a 51% majority of Skangass’s distribution operations from Lyse. Through the acquisition Gasum’s Finnish LNG business unit, including the Porvoo production plant and the planned Turku/Pori terminal will also become a part of the new joint enterprise. The acquisition will join the Finnish, Norwegian and Swedish markets geographically, making the delivery of a competitive product possible in the entire area.