Finnish LNG terminal given financial thumbs up

The Finnish port of Hamina’s proposed LNG terminal has received the green light, with necessary building permits approved.

To be built under a turnkey contract, the €100 million (US$118 million) project debt financing has been finalised.

A 30,000-cubic-metre LNG storage tank will be built in the first stage.

A second 20,000-cubic-metre storage tank will be added later.

Scheduled for full operations in 2020, the earthwork has been completed and construction work has started.

“The new terminal will be an important addition to the gas infrastructure as it will not only supply businesses and the shipping sector, but will also feed into Hamina Energy’s distribution gas grid and can be connected to Finland’s gas grid,” said Hamina Energy Chief Executive Markku Tommiska.