Project Profile
Value: US$106 million
Location: Port of Hamina, Finland
Storage capacity: 30 000 m³
Start-up: 2020
The Hamina project is part of Finland’s plans to create a network of small LNG terminals with the aim of offering LNG fuelling stations for ships and ensuring an additional source of gas for Finland. The Hamina LNG terminal will also contribute to the development of infrastructure supporting alternative fuels in a port that is part of the trans-European transport network (TEN-T). Hamina LNG intends to build the small-scale import terminal able to receive LNG tankers with a size up to 25,000 cubic metres. The facility will have regasification possibilities for low and high-pressure grid, truck loading facilities and re-loading bunkering facilities
The project will bring about a significant reduction in carbon dioxide emissions by providing cleaner fuel for transport. At the same time, the LNG infrastructure will increase the security of supply in Finland, providing an additional source of gas for the Finnish gas grid.
The public funding of €27,660,000 (US$30,865,000) will cover 30% of the total investment costs; the remainder will be funded by the developer and future owner of the terminal.
The European Commission assessed the project under the 2014 Environmental Protection and Energy State Aid Guidelines. The Commission\'s assessment concluded that the project contributes to environmental protection and to the security of gas supply in Finland whilst maintaining competition in the Single Market. In particular, the Commission\'s assessment showed that the project could not have been carried out without public funding. Moreover, the operator of the infrastructure will be under an obligation to provide access to interested users at a regulated price. This will ensure that the aid is limited to the minimum necessary for triggering the investment and that distortion of competition and trade are minimised.
Operators:
Hamina LNG Oy: Operator with 100%
(Joint Venture between Finland’s Haminan Energia and Estonia’s Alexela)
Contractors:
Wartsila: Turn-key contract