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Outokumpu to Invest in Utilizing Liquefied Natural Gas in Finland
12/19/2014 - Outokumpu is investing approximately €30 million into using liquefied natural gas (LNG) as a replacement for propane at its Tornio, Finland, mill.
The vast majority of the investment, phased over 2015–2018, will be used to make the required equipment modifications at the Tornio mill. The transfer to LNG will be made possible by the construction of a liquefied natural gas (LNG) terminal at the Tornio harbor in northern Finland. Manga LNG Oy, a joint venture of Outokumpu Group, SSAB, Skangass and EPV Energy Ltd, will build and operate the terminal, and procure LNG for its owners. Outokumpu’s share of Manga LNG Oy is 45%.
Outokumpu and its stainless steel mill in Tornio will be the main user of the natural gas imported through the terminal. Replacing the use of propane with LNG sourced directly from the global market will reduce production cost through lower and more stable energy prices, and thereby increase the competitiveness of the Tornio mill, Outokumpu said. It will also positively contribute in the company’s continuous drive to further decrease its carbon dioxide emissions.
Outokumpu and its stainless steel mill in Tornio will be the main user of the natural gas imported through the terminal. Replacing the use of propane with LNG sourced directly from the global market will reduce production cost through lower and more stable energy prices, and thereby increase the competitiveness of the Tornio mill, Outokumpu said. It will also positively contribute in the company’s continuous drive to further decrease its carbon dioxide emissions.
