European Commission authorizes funds for Pori LNG terminal

European Commission authorizes funds for Pori LNG terminal

The European Commission said it has approved Finland’s plans to grant €23 million to construct a small-scale LNG terminal at Pori on Finland’s west coast.

The Commission has concluded that Finland’s plans to grant public funding for the construction of the small-scale LNG terminal at Pori, in the Satakunta region, are compatible with EU state aid rules, European Commission’s statement reveals.

The project aims to advance the use of LNG as fuel for ships, in place of fuel oils and liquefied petroleum gases. The Commission concluded that the project contributes to environmental protection and to the security of gas supply in Finland whilst maintaining competition in the single market.

Currently, there are no LNG terminals in Finland. The Pori project is part of Finland’s plans to create a network of small scale LNG terminals with the aim of offering alternative fuel infrastructure to the maritime industry. The LNG infrastructure will increase the security of supply in Finland, providing local industries with access to gas.

The Pori terminal has a storage capacity of 30 000 m3. The public funding of €23.4 million will cover less than 30% of the total investment costs; the remainder will be funded by the developer and future owner of the terminal, Skangas.

 

Image: Skangas

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