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The State of Finland will purchase Gazprom’s shares in Gasum

Government Communications Department 18.12.2015 10.40
Press release 682/2015

The Finnish State will buy the whole of PJSC Gazprom’s stock in the gas company Gasum Ltd. Gazprom owns 25 per cent of Gasum’s shares. As a result of the transaction, Gasum will become a purely domestic company entirely owned by the Finnish State. The purchase price totals EUR 251,3 million.

Key reasons for the decision of the Finnish State to buy the Gasum shares are that, in its various forms, gas plays a central role in Finnish energy solutions and offers a cost-effective transition towards a carbon-neutral society.

Gasum is developing Finland’s gas market actively. The gas pipeline market and infrastructure in southern Finland are advancing, and the company is also investing significantly in the production of domestic biogas as well as in developing the infrastructure for liquefied natural gas (LNG) separately from the gas networks. The investment in gas will make it possible to reduce the use of coal and oil-based products in the future and replace them with gas, which is a considerably lower-emission option for not only industry but also combined electricity and heating production and for land and sea transport. 

The purchase of Gazprom’s shares in Gasum is expected to be finalised in early 2016. The Finnish State will carry it out through Gasonia Oy, a special company owned by the State.

Inquiries: Eero Heliövaara, Director General, eero.heliovaara@vnk.fi, tel. +358 295 160 150, Prime Minister's Office, and Marko Hyvärinen, Senior Financial Adviser, marko.hyvarinen@vnk.fi, tel. +358 295 160 151, Prime Minister’s Office

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