14 December 2021, Rotterdam
COUNT acquires Norwegian natural gas company
COUNT Energy Trading B.V. is pleased to announce the acquisition in full of Westgass AS, a Norwegian energy company focused on European natural gas.
With a pressing need for decarbonizing the petrochemical market, companies are reinventing themselves to find cleaner energy solutions. For COUNT, the acquisition of Westgass AS fits into their journey to a sustainable future.
Since 2016, Westgass AS, based in Stavanger, has been marketing natural gas across Europe, building a trustworthy reputation and liaising in the oil and gas industry. The company has a 2021 year-to-date revenue of over $200M.
With the acquisition, Westgass AS will be renamed to COUNT Westgass AS. Meanwhile, KAM Group AS, previous owners of Westgass AS, will continue to develop in the green energy space under its other Westgass group of companies, with a particular focus on green hydrogen and green ammonia.
By adding natural gas to COUNT’s portfolio, the company takes another step in the sustainable transition and expects forecasted revenue growth to $1.5Bn in 2022.
“I’m very excited about this acquisition. We see it as a bridge to our transition into more sustainable energy alternatives.”
– Jeroen Baaima, CEO of COUNT.
“We are very proud of our achievements in growing Westgass AS to an established natural gas company on the Norwegian Continental Shelf. We are confident in COUNT’s ability and expertise to expand the business further across Europe.”
– Arne Åkerlund, Chairman of KAM Group.
Westgass, based in Stavanger, Norway, is an energy company that started selling natural gas in 2016. Concerned with the future of the planet and the urgent need for sustainable solutions, Westgass began to restructure in 2020 to transition from gas to clean hydrogen. The Westgass group of companies is on track to becoming a sizeable international green hydrogen and green ammonia player with a presence across the full value chain from production, storage, distribution and through to sales.
COUNT, based in Rotterdam, Geneva, Zug, London and Houston, is a team of trading experts in energy products and renewables, with the goal of bringing the market towards a more sustainable future. As the demand for greener solutions is growing in our industry, COUNT offers cleaner alternatives to fossil-fuel-based products, such as CO2 Reduced Aromatics and Recycled feedstocks.