Tornio liquid natural gas terminal project

Overview:

• The consortium of Outokumpu, SSAB Europe, Skangass and EPV Energia - also known as the Manga group of companies - signed on to build and operate an LNG terminal in Tornio in the northwest of Finland, near the border with Sweden.
• The estimated cost of the construction is approximately €100 million, which will be funded through bank loans from Nordea Bank Finland and Pohjola Bank (partly backed by Finnvera's guarantee) as well as €33.15 million in investment aid from the Finnish Ministry of Employment and the Economy.
• Once construction is completed, it will be one of the first LNG terminals in Finland.
• The terminal is expected to operate by early 2018.

Wai Yee Tsang - Journalist