Acquisition of a 100% interest in the Risavika Liquefaction Plant, Norway
North Sea Midstream Partners (“NSMP”) is pleased to announce that NSMP Norge AS, its wholly owned subsidiary, has agreed to acquire the entire issued share capital of Risavika Production AS from Gasum.
Following completion, which is expected mid-November, NSMP will own 100% of the Risavika Liquefaction Plant (“RLP”). Risavika Production AS has a very experienced team who have operated the site since its inception and will continue to do so post completion.
RLP is a small-scale natural gas and bio gas liquefaction facility located in Risavika harbour in Southern Norway. The plant was on-stream in 2011 and is equipped with a full suite of state-of-the-art production, storage and vessel and truck loading facilities. RLP has an annual nameplate production capacity of 300,000 tonnes of Liquefied Natural Gas (“LNG”) / Liquefied Bio Gas (“LBG”).
RLP plays a critical role in enabling a lower carbon footprint for the Nordic industrial and road transportation market as well as the maritime segment across Northwest Europe. Due to Norwegian hydro electricity production, RLP operates predominantly on electricity produced from renewable sources.
This acquisition is NSMP’s first transaction in Norway, expanding its presence across the North Sea, diversifying its asset base and underpins the Energy Transition as one of NSMP’s key areas of strategic focus on the path towards achieving a net zero future.
NSMP CEO, Andy Heppel, said: “We are very excited to be acquiring the Risavika Liquefaction Plant from Gasum. This marks NSMP’s expansion into Norway and our first acquisition outside of the UK. NSMP believes in the long-term future of small-scale LNG and LBG and the role these fuels can play in the energy transition. Gasum will remain a substantial customer of the Risavika Liquefaction Plant under a long-term contract, and we look forward to working with Gasum and other future customers to provide a safe, reliable, and cost-effective liquefaction service for the long term. In the interim we will be working closely with Gasum, and the RLP staff to ensure a smooth transition of operations.”
For further information
Contact: Richard Ozsanlav – Chief Financial Officer
+ 44 203 159 4183
Notes to Editors
NSMP is a leading independent midstream business with large-scale gas infrastructure assets serving the North Sea. NSMP transports and processes natural gas from customers across the West of Shetlands, Northern North Sea, Norwegian North Sea, Central North Sea and Southern Gas Basin. NSMP provides essential services to over 35 fields owned by energy majors, utilities and independent producers, through a combined gas pipeline length of nearly 600km making NSMP’s infrastructure the largest and most diversified gas transportation and processing system in the UK. NSMP is committed to using its assets to make a positive difference to both security of supply and the energy transition.
For more about NSMP, please visit: www.nsmp-limited.com