Gasum Considering LNG Terminal in Finland

Gasum Oy is considering the construction of an LNG terminal in Southern Finland which it estimates could deal with up to 50 per cent of Finland's annual gas needs.

An environmental impact assessment (EIA) into the potential project is set to begin later this month and will measure the impact on two potential sites for the terminal in Jöddböle, Ingå or Tolkkinen, Porvoo. This EIA will dictate whether the project proceeds or not.

If the project proceeds past this stage, Gasum estimates that the terminal, which would cost several hundred million euros, could service between 10–20 TWh of natural gas, approximately 25 and 50 per cent of Finland's needs. Gasum estimates that the build would cost between €200 and €400 million and would connect the country to the world gas market through imports.

"The LNG import terminal would connect Finland with the international gas market," CEO of Gasum Antero Jännes said. "A total of 15 per cent of the gas used by EU countries is already imported in the liquefied form. LNG is a serious alternative, and Gasum wants to explore the opportunity to import it to Finland.

"LNG imports will diversify access to gas and increase flexibility in sourcing. This would provide Finnish gas consumers with continued access to gas at a competitive price that stands comparison with competitor countries. LNG also offers a flexible way to ensure the availability of energy during the winter peak periods of power consumption."

He said that a price-positive trend in liquefied natural gas prices made LNG a cost effective option for Finnish gas imports.

The terminal, if built, would support the regassification of gas taken from LNG vessels and would be fed to the Finnish market through an existing gas pipeline network. 

Gasum says it is aiming for completion of any such terminal by 2018, with phased construction possibly allowing LNG imports to reach the market by the end of 2015.