Investment Support for LNG Terminals
LNG (or liquefied natural gas) can be used as a fuel in applications such as marine traffic and heavy road traffic. When liquefied, natural gas takes up significantly less space, which makes it easier to store and transport over long distances by sea. The sulphur oxide and carbon dioxide emissions of LNG are considerably lower than the emissions generated by current marine fuels.
Adopting LNG will require the construction of a national LNG terminal network in Finland, and a similar network in the Baltic Region, as well as a regulatory framework for the purchase and use of LNG-fuelled vessels. A so-called bunkering infrastructure is required for refuelling with LNG. In addition, LNG carriers are needed in order to transport LNG to terminals.
LNG terminals enable the transportation of natural gas to areas outside the natural gas network. This diversifies and helps to secure the energy supply. It also reduces emissions, particularly in industry in which other fossil fuels are used as a power source. LNG terminals also provide a way of boosting competition on the energy markets and give energy buyers more choice.
In autumn 2008, the European Commission launched the BEMIP (Baltic Energy Market Interconnection Plan). The goals of the BEMIP include connecting the Baltic countries' and Finland's natural gas network to the European network, as well as the construction of an LNG terminal – serving the neighbouring Baltic countries and Finland – on the coast of the Gulf of Finland. The Projects of Common Interest list (PCI list) includes the regional projects through which this is to be achieved. Projects accepted onto the PCI list are eligible for support by the European Commission. Finland aims to secure such support for large-scale, regional LNG terminals.