Killajoules

Finngulf terminal and Balticconnector pipeline not commercially viable
Gasum has conducted thorough studies on the feasibility of constructing a regional LNG terminal in Southern Finland and the Balticconnector offshore pipeline between Finland and Estonia. As Gasum has already stated earlier, implementation of the projects require them to be commercially viable. On the basis of the studies Gasum has conducted the Finngulf and Balticconnector projects are not regarded as commercially viable and there is not sufficient demand for them in the Finnish market. Therefore Gasum will give up the implementation of both projects.

Neste Jacobs wins the bidding competition of Gasum's Finngulf LNG Project Management Services
Technology, engineering and project management company Neste Jacobs has won the bidding competition of Gasum's Finngulf LNG and Balticconnector project to deliver the Project Management Office (PMO) of the project. The PMO office will in 2014 together with the other Front End Engineering Design (FEED) engineering companies for the individual sub projects prepare the material in order to enable Gasum to make the final investment decision for the combined Finngulf LNG investment including Balticconnector in the end of year 2014. After that Neste Jacobs will be responsible for the project management services of the whole project.