Wednesday, November 19, 2014

Many vying for EU energy money – Hufvudstadsbladet

 LNG gas reaches Finland through tankers. Gas terminal and gas pipe means that Finland can reduce its dependence on Russian gas. Photo: Gasum.

The political compromise on a terminal for liquefied natural gas (LNG) at the Gulf generally follows the European Commission’s support requirements. But more than 200 projects competing for six billion euros, so the support is far from certain.

The European Commission has on several occasions asked Finland and Estonia come agree on where the Gulf of large terminal for liquefied natural gas to be built. That it will be Finland’s parties now agree, the place of posting is however still open.

Open is also the project really going to get support from the EU. The program, Connecting Europe Facility (CEF) in which the parties hope to find funding have been cut sharply in connection with the EU’s budget slashed. Now competing over 200 projects for scarce 6 billion spread over seven years.

European parliamentarians Nils Torvalds (SFP) says that the LNG terminal is a good project, but that the EU -means not mean safe. This applies to lobby actively and emphasize the need to link the Finnish gas market to the Central European and Poland, he points out.

– When the pie gets smaller, it is harder to get money, says Torvalds.

A large gas terminal in Finland cost about 400 million euros, the gas pipe that would tie together the natural gas markets in Finland and Estonia, just under 100 million to.

– The project must be economically viable and that it will be the need we get enough support for the construction of the EU, says Gasum CEO Johanna Lamminen .

The timetable is fast. In the agreement, Prime Minister Alexander Stubb (Coalition) and Prime Minister of Estonia Taavi Rõivas announced on Monday it is said that the implementation of the project has not been sufficient progress by the end of 2016, the terminal can be built in Estonia.

– The planning of the terminal is progressing now, later, we have an opportunity to apply for EU funding, says Industry Council Herkko Plit on the Economy.

Big step forward
The next opportunity to apply for financial aid in the spring, but in the CEF are several application opportunities per year. How much support for the LNG terminal might be want Plit not speculate, for pipe Baltic Connector, he expects a support rate of 75 percent. The pipeline is scheduled to be completed 2019th

– When the project has political support, it is easier to apply for EU funding, says Plit.

He describes Monday’s agreement as a major step forward . It means that the main LNG terminal being built in Finland. The Estonian terminal is being built mainly for gas distribution and to ensure the country’s food security. There is a terminal in the same size class as the Finnish terminals in Pori and Tornio.

The idea is to extend the gas network in the Baltics so that Finland has access to the natural gas stored in Latvia’s underground gas storage.

In addition to the EU to the gas company Gasum, which the state now has a majority stake, to help finance the LNG terminal. A possible direct state support will be dependent on the government that is added after the spring election.

Gasum Lamminen denotes Monday’s agreement positive and notes that the company continues to pursue the project.

– Both Conclude and Tolkkinen is still relevant for locating, she says.

What to do
Before one can seek support from the EU must in all cases both the placement and the place of the terminal’s size to be completed. The final investment decision making Gasum only after the EU’s state aid decision is in port.

Markus will be affected according Lamminen addition to the support of the market. It is important that the natural gas market development, while it is also important that the shipping and transport have access to LNG.

– There are many factors affecting says Lamminen.

The state is now majority owner of Gasum. In early November, the government purchased Fortum and German energy giant Eon shares and now owns three-quarters of the company.

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