Finland offers investment support for LNG terminals

Finnish government is committed to the construction of a liquefied natural gas terminal network.

International companies can apply for investment support for the construction of liquefied natural gas (LNG) terminals in Finland from the Ministry of Employment and the Economy, starting from 15 October 2013. The Finnish government is providing EUR 123 million in support for investments in the construction of a national LNG terminal network in 2013 and 2014.

The investment support is intended for terminals used in the import or cargo handling of natural gas, as well as in the discharge, storage and supply of the gas. It is also intended for the design and construction of the related equipment. The investment support must be sought before purchasing fixed assets or beginning any construction, refitting or renovation work to be financed from the support.

More LNG-fuelled vessels

The government’s aim is the construction of many small-scale LNG terminals along Finland’s coastline, with a volume of 5,000–70,000 cubic metres. The investment support can cover about 20–30% of the total investment in a LNG terminal project. More details for applying for the investment support are published on the ministry’s website.

The construction of LNG terminals will enable the increased use of LNG-fuelled cargo and passenger vessels in the Gulf of Finland. This will also enable the transportation of natural gas to areas outside the natural gas network, diversifying the energy supply and reducing emissions. According to the ministry, LNG terminals also provide a way of boosting competition on the energy markets and give energy buyers more choice.

Source: Ministry of Employment and the Economy