World Bulletin / News Desk
Finland’s economic ministry announced Thursday that it has committed €65.2 million ($84 million) in energy subsidies for three liquefied natural gas terminals.
Three energy companies, Manga LNG, Skangass and Oy Aga Ab, will build the LNG terminals in Tornio, Pori and Rauma with this support, according to the ministry.
The Finnish government hopes the move will significantly reduce the industrial use of fuel oil and liquefied petroleum gas in the Nordic country.
Signing the decree was Minister of Economic Affairs Jan Vapaavuori who said: "The decrees to approve these three operations will see more than €200 million being invested into LNG terminals.
“This will then instigate the development of a network of terminals along the Finnish coastline,” he added.
European governments are trying to reduce their reliance on energy imports from Russia because of the crisis between European Union and Moscow.
The volume of natural gas imported to Finland in 2013 was 106 billion cubic meters and is imported from Russia, according to Finland’s Energy Market Authority.Last Mod: 18 Eylül 2014, 15:52