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  • Finngulf terminal and Balticconnector pipeline not commercially viable
    édité le 05/10/2015 - Plus de news de "Gasum" - Voir la fiche entreprise de "Gasum"


Finngulf terminal and Balticconnector pipeline not commercially viable
Gasum has conducted thorough studies on the feasibility of constructing a regional LNG terminal in Southern Finland and the Balticconnector offshore pipeline between Finland and Estonia. As Gasum has already stated earlier, implementation of the projects require them to be commercially viable. On the basis of the studies Gasum has conducted the Finngulf and Balticconnector projects are not regarded as commercially viable and there is not sufficient demand for them in the Finnish market. Therefore Gasum will give up the implementation of both projects.

The Finnish gas market and its future outlook have changed substantially since 2008 when plans for the projects were initiated. The competitiveness of gas has deteriorated and gas consumption has decreased. In Southern Finland in the area covered by the gas pipeline network, investments of this scale would further weaken the competitiveness of gas. The extensive studies conducted indicate that the Finngulf and Balticconnector projects are not commercially viable. Therefore Gasum will give up the implementation of both projects.

Gasum is continuing the active development of the Nordic gas market. In Finland there is demand for LNG, particularly among users outside the gas network and in transport, with LNG providing a competitive alternative to oil-based fuels. The Gasum subsidiary Skangas is constructing an LNG terminal in Pori, Finland, and Skangas is also a co-owner of the LNG terminal under construction in Tornio, Finland. The Pori terminal and Tornio terminal projects will serve the growing needs of the market outside the gas pipeline network in industry, shipping and heavy-duty road transport.

Additionally, the market for the biogas, which is 100% Finnish and renewable, is growing strongly and Gasum desires to be a forerunner in developing the market.

”Gasum is investing constantly in the development of the Finnish gas infrastructure. Our key objectives are to ensure our customers’ access to clean and competitive fuels and at the same time develop the Finnish biogas market and Nordic LNG market,” says Gasum CEO Johanna Lamminen.

About Gasum

Gasum is a Finnish expert in natural energy gases (natural gas and biogas). It imports natural gas to Finland, upgrades biogas, and transmits and delivers these for a broad range of uses in energy production, industry, homes, and land and maritime transport. Gasum develops the Finnish and Nordic energy infrastructure by investing in the liquefied natural gas (LNG) business, biogas business and transport services. Gasum is the leading supplier of biogas in Finland. It injects biogas into the gas network from Espoo, Kouvola and Lahti. Gasum acquired a majority stake in the LNG business of the Norwegian Skangas in May 2014. Skangas will continue to strengthen the position and infrastructure of LNG and the utilization of new gas solutions more extensively in Finland, Sweden and Norway. The Gasum Group has more than 300 employees. Gasum’s revenue for 2014 totaled €1.1 billion. Cleanly with natural energy gases.


Origine : Communiqué Gasum

Voir la fiche entreprise de "Gasum"



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