Hamina LNG was established with the intention to operate a LNG import terminal in the Port of Hamina. The intention is to connect the terminal to the local gas network of Hamina and the Finnish national gas grid The terminal will open the gas import market in Finland.
Natural gas reserves in the world are significantly higher than those of crude oil, the difference in prices between oil products and gas is vast. LNG import keeps gas prices under control and rising security of provision helps to develop gas consuming economic sectors.
LNG terminal work principles are subject to Natural Gas Act and EC Directives. Traders who are interested in trading with LNG will receive equal rights and transparent conditions by the operator of the gas terminal. According to legislation, operator of the terminal is not allowed to trade with gas.
Hamina LNG Oy is a joint venture between Hamina Energia Oy and Alexela Varahalduse AS. Hamina Energia is a municipal energy distribution company, serving the Hamina Kotka region with supply of electricity, heat and gas and other services. Alexela Varahalduse AS is a company with extensive oil terminal experience in Estonia, Russia and Norway and is involved in the Paldiski LNG project.