Norterminal AS and
Finnmarkseiendommen (Fefo), have signed an agreement for a long term lease for a land area of approximate 100 hectares along the
Gamneset coastline in the
Korsfjord.
The area has been determined by Norterminal as the optimal location for a large-scale oil, petroleum, or gas terminal. The agreement is conditional upon the areas being regulated for industrial use.
Speaking on behalf of FeFo,
Sverre Pavel said: "Fefo is happy to enter a commercial agreement with Norterminal AS, which can have a large impact on the development of all of East Finnmark.”
Jan Olli, Director of Fefo, added: "It is important that Fefo contributes its areas and resources for the purpose of creating values and the basis for new employment in Finnmark."
Commenting on the agreeement,
Cecilie Hansen, Mayor of Sør-Varanger Kommune, said: "Our kommune (county) is quite pleased that an agreement has been reached between Norterminal and FeFo for a long term lease in the Gamnesbukt. We see this as a large step in the right direction for the development of the town of Kirkenes as a future centre for the oil and gas industry in the eastern Barents Sea and a transportation hub for the Northern sea route. Our Kommune is now looking forward to the work with realizing the project and re-regulation process so we can contribute to achieving Norterminal’s progress plan. “
Jacob B. Stolt-Nielsen, President of Norterminal AS, said: “We are very happy to have reached a long term lease agreement with Fefo for land well suited for a terminal. The discussions with Fefo have given us a better understanding of the needs of the Finnmark and Sør-Varanger community. This understanding is important for the futured development of Norterminal. The negotiations with Fefo have been constructive and very positive and we look forward to continue the cooperation ahead. “
Norterminal is developing a feasability study to build an oil, petroleum or gas terminal for the growing future production from the Barents Sea and the Arctic. Norterminal’s vision is to establish a regional transhipment and storage terminal with the highest international design and operating standards.
The aim of the terminal project is to enable products to be exported directly to world markets in large, cost effective ships, in an environmentally-friendly manner. The terminal infrastructure will provide a long-term solution and will replace current temporary logistics, Norterminal said.
Norterminal estimates that the total investment in the terminal will be between NOK 2-4 billion (USD 360-540 million) and shall be completed and operational by 2016-2017.
