Gasum to Explore Plans for LNG Terminals in Finland

Gasum and the owners of the Tornio ManGa LNG project are collaborating to explore opportunities for liquefied natural gas (LNG) sourcing and shipping logistics for terminals in Tornio and Turku. The joint effort aims to create a cost-efficient, Finnish LNG sourcing and shipping solution for industrial, energy production and maritime transport use. The aim is to launch LNG shipping in 2015–2016.

Tornio ManGa LNG is planning an LNG import terminal for Röyttä, Tornio, while Gasum is planning one for Pansio, Turku. The collaboration now launched aims to ensure the efficient and secure sourcing and shipping of LNG for the Tornio and the Turku terminals. This will promote access to low-emission LNG for use as an industrial, energy production and shipping fuel.

Opportunities for cooperating in the procurement of LNG carriers and joint use of transport capacity are being explored. As regards natural gas sourcing, potential supply chains are assessed and efforts are made to find cost-efficient solutions to ensure access to energy.

The LNG terminals and the new distribution infrastructure would diversify the Finnish gas market and enable gas sourcing via different supply chains. Finland does not currently have an LNG import terminal. Instead, all of the country’s natural gas imports arrive via a gas pipeline from Russia.

LNG is an environmentally friendly fuel that can be used to replace oil-based fuels in industry, energy production and maritime transport and, consequently, achieve major reductions in particulate and carbon dioxide emissions from these activities.

In maritime transport LNG helps respond to the challenges posed by the sulphur emission limits that will enter into force in 2015 as LNG is a fully sulphur-free fuel.

The LNG supply infrastructure will improve industrial competitiveness as the price of LNG has in recent years continuously remained more stable and its development more moderate than the price development of heavy and domestic fuel oil.

The construction of LNG infrastructure will also have a major job-creating effect in the Tornio and Turku regions.

LNG distribution is due for a launch in Pansio, Turku, in late 2015 and in Röyttä, Tornio, in 2016.

[mappress]
Gasum, May 21, 2013