Brussels, 18/03/2016 (Agence Europe) - On Friday 18 March, the European Commission announced that it had approved Finnish plans to grant €28 million in aid for the construction of a small liquefied natural gas terminal in Hamina.
Currently, there are no terminals of this kind in Finland, which depends on single source of imported gas. The public financing of €27,660,000 will cover 30% of the total investment costs; the rest will be paid for by the promoter and future owner of the terminal.
The Commission takes the view that the project will help to improve the security of energy supply in the region and to reduce emissions of carbon dioxide, in line with the EU's energy and environmental targets, without unduly distorting competition on the internal market. “These small-scale LNG terminals will provide the maritime industry with a new source of cleaner fuel and will help to diversify sources of gas supply in Finland”, said Margrethe Vestager, the Commissioner for Competition, in a press release. (Original version in French by Elodie Lamer)