FINNGULF LNG LNG IMPORT TO FINLAND

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1 FINNGULF LNG LNG IMPORT TO FINLAND

2 CLEANLY WITH NATURAL ENERGY GASES Gasum is a Finnish expert in natural energy gases. We import natural gas to Finland, and transmit and supply it for energy production, industry, households and transport via a pipeline network owned by us. Gasum is also an active developer of the Finnish biogas sector. Natural gas and biogas provide the Finnish energy sector with considerable efficiency and environmental benefits. GASUM S OWNERS PERCENTAGE OF SHARES HELD IN AUGUST 2013 Fortum Heat and Gas Oy 31% OAO Gazprom 25% Finnish State 24% E.ON Ruhrgas International zmbh 20% KEY FIGURES 2012 NET SALES 1,281.8 MILLION OPERATING PROFIT 62.4 MILLION BALANCE SHEET TOTAL MILLION PERSONNEL 259

3 LNG terminal leading to sustainable development Gasum has made a commitment to the principles of sustainable development. We strive for responsible business performance, care for society and the environment and look after our personnel. Our corporate responsibility themes are: Openness: applying the principles of openness and fairness in Gasum s operations Security of supply: diversifying gas sourcing, ensuring the gas network s sufficient operational capacity and ensuring preparing for exceptional situations The environment and safety: making determined efforts to reduce the greenhouse gas emissions from Gasum s operations as well as the impacts of pipeline construction on ecological conditions The current use and future of natural energy gases: improving competitiveness of natural energy gases by diversifying gas sourcing and integrating Finland into the European gas market We conduct open dialogue with stakeholders and are a good neighbor to local residents living near our offices, the gas transmission network and production facilities from the pre-studies, planning and construction phases onward. Natural gas can facilitate efforts to build cleaner wellbeing and help countries meet their national emission reduction targets. Commitments made by the European Union to reduce greenhouse gas emissions and increase the share of renewable energy are part of efforts to combat the climate change threatening our planet.

4 NATURAL GAS PLAYS A MAJOR ROLE IN FINLAND S ENERGY SOLUTIONS Finland is part of the European Union. It is one of the largest countries in Europe in terms of area. Because of the northern location and energy-intensive industrial structure, heat and power production play an important role in Finland. One of the most significant sources of energy is natural gas. In 2012 natural gas accounted for 8.5% of Finland s primary energy needs. The consumption of natural gas is divided into two segments that are almost equal in size: industrial use of natural gas, and district heat and related electricity generation. The most important users of natural gas in Finland are power plants and companies, industrial companies and retailers supplying residential customers, small and medium-sized enterprises and transport. Unlike in other European countries, direct gas heating is rare in Finnish homes or other properties. District heating is the most common heating system. Around a third of district heat is produced with natural gas. There is potential for a million tonne (14 25 TWh) LNG market. However, further market growth requires supply diversification. There is a substantial potential for LNG use in industrial and marine fuel applications outside the natural gas grid.

5 TOTAL FINNISH ENERGY CONSUMPTION BY ENERGY SOURCE (STATISTICS FINLAND 2012) Oil 24% Coal 10% Natural gas 8% Nuclear energy 18% Net imports of electricity 5% Hydro and wind power 4% Peat 5% Wood fuels 23% Others 3% CONSUMPTION OF NATURAL GAS IN FINLAND AND FORECAST TO 2030, TWh/a NATURAL GAS WAS USED TO GENERATE 28% OF THE TOTAL FINNISH DISTRICT HEAT PRODUCTION IN 2012

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7 MARINE LNG IN THE BALTIC SEA A NEW GROWTH MARKET General concern about marine emissions, oil spills and accidents in the Baltic Sea are drivers for the marine LNG market. The Baltic Sea will be part of the world s first Emission Control Area (ECA) in The International Maritime Organization (IMO) will be regulating SOx, NOx and PM emissions. The majority of Finland s exports are transported by sea. Traffic in Finnish ports is dominated by regular service traffic. Stricter emission regulations for industrial use make LNG an appealing alternative and LNG use in the transport sector will increase. The first LNG-fuelled passenger ferry started in service in early EU s Clean Fuel Strategy aims to a comprehensive LNG filling station infrastructure both for Marine and Trucking.

8 FINNGULF LNG OPENING FINLAND TO GLOBAL GAS MARKETS Gasum is developing the construction of a LNG terminal in Ingå, south coast of Finland. The planned terminal Finngulf LNG enables the development of both the up- and downstream parts of the natural gas value chain. In the upstream, the terminal will open global natural gas markets to Finland, thus diversifying the sourcing of natural gas from the prevailing situation in which there is a single supplier. Downstream benefits lay in diversifying the Finnish market s consumer base by enabling the development of a substantial off-grid market for industry and marine use. The terminal targets to provide the markets in Finland and Baltic states with competitively priced energy, economies of scale in LNG sourcing, improve the regional and national security of supply (SoS), reduce the dependence on single supplier and function as an energy

9 storage. The terminal is also in line with the national and EU level environmental and energy market targets. EU grants up to 50% of the total investment are possible. The terminal project is part of the Baltic Energy Markets Integration Process (BEMIP) which aims to diversify the supply of natural gas, improve the security of supply and integrate Finland and the Baltic States to the European gas market. In connection to the Finngulf LNG terminal, an off-shore pipeline, Balticconnector, between Finland and Estonia will also be built to serve the purpose of physically connecting the Baltic and Finnish gas transmission networks. This development will re-define Gasum s role, and will lead to the unbundling of Gasum s energy trading and transmission system operations (TSO). Taking into account the future market model, a terminal company, Finngulf LNG Corporation was founded in summer 2013 to be the terminal owner company according to the independence requirements of EU legislation. This means that there cannot be any control of gas producers or energy sales companies neither in the TSO-part of Gasum Oy nor in the terminal company Finngulf LNG Oy. The terminal is focusing at serving the Regional markets with an estimated annual energy throughput of TWh and storage capacity demand of 300,000 m 3. The grid markets will be served through vaporizing the LNG by injection into the Finnish and Baltic transmission networks. Substantial amounts of the LNG shipped to the terminal will be reloaded into ships and trucks for further transport to industrial users outside the existing gas grid and for use as transport fuel. The final investment decision of the terminal will be made at the end of COMBINED NATURAL GAS CONSUMPTION IN FINLAND AND THE THREE BALTIC COUNTRIES IS ABOUT BC/Y.

10 LNG terminal in Ingå The LNG terminal in Ingå is planned to have a net storage capacity of 300,000 m 3. From the terminal site a 20 km long pipeline shall be built to the existing Finnish gas grid. Construction of the terminal will either occur in one or, alternatively, two phases. The single phase construction of the terminal will lead to the entire capacity being in commercial use by the end of In case of the two phase option, the terminal will be in partial commercial use by the end of 2016 and Balticconnector in 2016, with a storage capacity of 150,000 m 3. With the completion of the second phase the terminal will double its commercial capacity by the end of Environmental Impact Assessment Report conducted Gasum launched an Environmental Impact Assessment (EIA) concerning the construction of a LNG import and storage terminal in Finland. The purpose of the EIA procedure was

11 to assess the project s environmental impacts and increase the project s openness and stakeholder interaction. The aim of the EIA was to assess the opportunities to construct a full-scale LNG terminal in Ingå or Tolkkinen, Porvoo. The environmental impacts of smaller-scale LNG terminal solutions in these locations were also assessed. In the EIA Report conducted, no obstacles to the construction of an LNG terminal were found. The most significant environmental impacts of the project will be created during the construction of the LNG terminal and related functions. Adverse impacts arising during terminal operation will be smaller. An EIA process concerning the Balticconnector was launched in February 2013 and the EIA program was ready in August The EIA report shall be ready in August 2014 and the EIA process is to be finished in December CONTACT INFORMATION Ari Suomilammi Vice President, Transmission system operations and development Timo Kallio Project Director, Finngulf LNG and Balticconnector projects

12 CLEANLY WITH NATURAL ENERGY GASES GASUM.COM

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