See the opportunities within LNG in Finland!

The Finnish Ministry of Employment and the Economy has received several investment aid applications to support the construction of a national LNG terminal network in Finland. According to the Minister of Economic Affairs, Jan Vapaavuori, the aim is to start developing several terminals along the coast as soon as possible. These coming projects offer many opportunities for both Finnish and foreign companies in the field.

At the moment, support for six terminals is being evaluated at the Ministry. In both Tornio and Pori, there are advanced plans for a terminal with storage capacity of 50 000 m3 and 30 000 m3, respectively. There are plans for a small scale off-shore terminal outside of Salo and plans for a small scale LNG terminal in the Vasa region. In addition, the Hamina region has applied for financial support. Containerships Ltd Oy also has plans for a terminal to support heavy transport. New LNG vessels are under construction which need bunkering. However, at present there are no LNG terminals in use in Finland although a few are already under construction.

The main motivation for developing a functioning LNG network in Finland is to replace other fossil fuels used presently within maritime transport. This would also make it possible to supply LNG outside the existing gas network. Both the transportation industry and other industry would have more cost-effective and cleaner alternative fuels.  A network of LNG terminals would enhance competition in the gas market and also diversify fuel supply in Finland. The new EU emission regulation for sulphur dioxide is another driving force behind the need for cleaner fuels.

Prizztech Oy, the Pori local industry development company, arranges annually an industry matchmaking event with a seminar. The goal for participating companies is to make business contacts and discuss opportunities. This year the focus was on the off-shore energy industry and LNG in Finland and Norway. For example, Gudrun Rollefsen, Barents Naturgass CEO and Honorary Consul of Finland, held a presentation outlining the activity of Barents Naturgass as a transporter of LNG. She clearly sees Finland as a very attractive and potential market. Also, Tommy Mattila, Skangass Oy CEO, argued that while Norway has valuable know-how within LNG and the off-shore energy business, this know-how is often too expensive for the Finnish market and therefore not competitive. He argued that Finland needs terminals, infrastructure and distribution. Skangass Oy, after the acquisition of 51 % by Gasum, became the largest Nordic LNG operator and this will speed development of gas infrastructure in the Nordic countries. Mattila also wished that more suppliers would cooperate and take part in tendering processes.

In addition, Lasse Pohjola from VASEK (Vasa Region Development Company) stated that more competition and know-how is needed in terms of suppliers and invites more Norwegian companies to take a look at the Finnish market.

Planning and construction of LNG infrastructure is at a starting point in Finland. At Innovation Norway we see this vast field as a window of opportunity for anyone with products or services in this industry.

For more information please contact Tua Takasu at Innovation Norway, email: tua.takasu@innovationnorway.no, phone: +358 207 551 213

Plan of a terminal in Inkoo

Image: Source: Gasum Oy

Image: Source: Gasum Oy

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