Finland to build three LNG terminal projects

21 September 2014 (Last Updated September 21st, 2014 18:30)

Finland's Ministry of Employment and the Economy is set to invest €65.2m in energy subsidies for three liquefied natural gas (LNG) terminals in Tornio, Pori and Rauma.

Finland’s Ministry of Employment and the Economy is set to invest €65.2m in energy subsidies for three liquefied natural gas (LNG) terminals in Tornio, Pori and Rauma.

Manga LNG Oy, Skangass Oy and Oy Aga Ab will construct the LNG terminals in order to minimise the industrial use of fuel oil and LPG in the country.

Minister of Economic Affairs Jan Vapaavuori stated that proceeding with the three operations will see more than €200m being invested into LNG terminals, which will instigate the development of a network of terminals along the Finnish coastline.

"The three terminals combined will have an operating capacity of 450,000t, equating to more than 6TW-hours a year."

The three terminals combined will have an operating capacity of 450,000t, equating to more than 6TW-hours a year.

Manga LNG Oy has received more than €33.1m to construct the Tornio terminal, which will have a LNG storage capacity of 50,000m³ and is expected to be completed in 2017.

Skangass Oy has received around €23.4m for the terminal at Tahkoluoto Harbour in the Port of Pori. This will have an LNG storage capacity of 30,000m³ and is scheduled for completion by autumn 2016.

The terminal to be constructed in the Port of Rauma with an LNG capacity of 10,000m³ has been alloted €8.6m. The facility will be built by Oy Aga Ab by early 2017.

The three terminals will reduce Finland’s annual CO2 emissions by approximately 370,000t and carbon emissions by 1,870t.

Around 500 jobs a year will be created during the three construction periods, with 40 permanent jobs available thereafter.

Along with these projects, the government is also handling applications for investment support from Haminan Energia Oy, LNG Finland ry and Containerships Ltd Oy.