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Wed 22 May 2013, 05:46 GMT

Finnish LNG project announced


Joint project aims to develop LNG sourcing and shipping in Finland.

Finnish gas company Gasum Oy and the owners of the Tornio ManGa LNG project are collaborating in a joint initiative to explore opportunities for liquefied natural gas (LNG) sourcing and shipping for terminals in Tornio and Turku.

The joint effort aims to create a cost-efficient, Finnish LNG sourcing and shipping solution for industrial, energy production and maritime transport use. The aim is to launch LNG shipping in 2015–2016.

Tornio ManGa LNG plans to build an LNG import terminal at Röyttä, Tornio, while Gasum is planning one for Pansio, Turku.

The new collaboration is aimed towards ensuring the efficient and secure sourcing and shipping of LNG for the Tornio and the Turku terminals. This, in turn, would promote access to low-emission LNG for use as an industrial, energy production and shipping fuel, the project partners said.

Opportunities regarding the procurement of LNG carriers and joint use of transport capacity are being explored. As regards natural gas sourcing, potential supply chains are currently being assessed and efforts being made to find cost-efficient solutions to ensure access to energy.

The LNG terminals and the new distribution infrastructure would diversify the Finnish gas market and enable gas sourcing via different supply chains. Finland does not currently have an LNG import terminal - all of the country’s natural gas imports arrive via a gas pipeline from Russia.

According to the joint project partners, the development of an LNG supply infrastructure would improve industrial competitiveness as the price of LNG has, in recent years, remained more stable than the price development of heavy and domestic fuel oil.

LNG distribution is scheduled for 2015 in Pansio, Turku, and 2016 in Röyttä, Tornio.

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