Alternatives for Gulf of Finland LNG terminal presented to EC

The Finnish energy company Gasum and the Estonian energy company Alexela Energia have presented their alternative collaboration models concerning the liquefied natural gas (LNG) import terminal, planned for the Gulf of Finland, to the European Commission.

In February, at the request of the European Commission, Gasum and Alexela signed a memorandum of understanding on further feasibility studies concerning the regional LNG terminal project in order to map out possible modes of collaboration by the end of May. The companies presented their plans in June 2014, but the European Commission did not find them viable for investment aid. Consequently, the parties have, at the request of the European Commission, designed several alternative collaboration models for the implementation of the import terminal.

The alternative collaboration models, having facilities on both sides of the Gulf of Finland, were presented to the European Commission in Brussels yesterday and now the companies are waiting for the European Commission’s position on the presented collaboration models.

”The negotiations were conducted in good spirit and now we are waiting for the Commission’s position on the presented collaboration models. We find the development of the Gulf of Finland LNG infrastructure important in order for us to be able to ensure and diversify access to liquefied natural gas,” say Gasum CEO Johanna Lamminen and Alexela CEO Marti Hääl.

Press Release, August 19, 2014; Image: Gasum