Finland Times

Minister of Economic Affairs Jan Vapaavuori. Photo Lehtikuva.

The Ministry of Employment and the Economy announced on Thursday that it committed a total of EUR 65.2 million in energy subsidies for three liquefied natural gas (LNG) terminals.

 

 With the support, Manga LNG Oy, Skangass Oy, and Oy Aga Ab would build LNG terminals in Tornio, Pori and Rauma respectively, said a press release of the ministry.

 

 The new terminals will help facilitate a move to significantly reduce the industrial use of fuel oil and liquid petroleum gas (LPG) in Finland.

“The decrees to go ahead with these three operations will see more than EUR 200 million being invested into LNG terminals. This will then instigate the development of a network of terminals along the Finnish coastline,” commented Minister of Economic Affairs Jan Vapaavuori after signing the decrees.

 

 LNG offers an environmentally-friendly and carbon-free alternative fuel source for the shipping industry. It also enables us to create alternative procurement streams for industries that use gas. 

 

According to estimates, the market potential for the use of LNG by the shipping and other industries is particularly significant in the Satakunta region. Furthermore, a terminal in the Bay of Bothnia would make possible the use of LNG in all the harbours located in the Northern part of the Bay of Bothnia, the release said.

 

The combined employment effect of the three projects' construction phases is estimated to be approximately 500 person years. 

 

Upon completion, the terminals and their associated logistics chains are hoped to lead to around 40 permanent jobs. The combined maximum operating capacity of the three terminals will be 450,000 tonnes, which equates to more than 6 terrawatt-hours a year.

 

The three new terminals will also reduce annual CO2 emissions by approximately 370,000 tonnes and carbon emissions by 1,870 tonnes, the release said.