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Fri, 06 Dec, 2013 05:18:49 AM FTimes Report, December 6
The Ministry of Employment and the Economy has received investment aid applications or advance notifications for five projects for the construction of liquefied natural gas (LNG) terminals, said a ministry press release.
The Government has set aside a total of €123m for this purpose.
According to the applications and the advance notifications, Gasum Oy is planning to build a terminal in either Turku or Pori, Haminan Energia Oy is planning its own terminal at Hamina, Magna Development Company in Tornio and Oy AGA AB in Pori.
The LNG Finland association is planning a floating terminal near Salo. The terminals would be ready in 2016-2018.
Aid applications are to be submitted by September 30, 2014. The investment aid scheme is based on a government decree that came into effect on October 15, 2013. Aid is granted on the basis of this decree and the Act on Discretionary Government Transfers.
The aid could be approximately 20-30% of the total investments in the project.
Investment aid into LNG terminals is a discretionary aid and it can be granted only as authorised in the national budget.
The investment aid is intended for the planning and construction of a terminal to be used for importing or receiving natural gas, as well as its discharge and storage, and for the planning and construction of the related equipment.
With the aid, it is hoped that projects worth hundreds of millions of euros could be launched, in which several national LNG terminals of smaller size should be built along the Finnish coast. Their tanks would have a volume of 5,000 to 70,000 cubic metres.
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