The Finnish Energy Authority (Energiavirasto) will carry out a consultation on application to amend the terms and conditions made by Floating LNG Terminal Finland Oy for Energy Authority on 14.3.2023. The consultation is open from 16th March until 30th March 2023.
According to 13.4 § of Act on the Supervision of Electricity and Natural Gas Markets 590/2013, a confirmation decision issued for a fixed period can be changed at the initiative of the subject of the decision, if there is a compelling reason for the change due to a substantial change in circumstances that occurred after the decision was issued.
As grounds for the application to amend the confirmation decision, FLTF has presented, among other things, the following. According to FLTF, the circumstances after the Energy Agency's confirmation decision regarding the Terms of Use have changed substantially. The predictability of gas demand, price and availability has increased to such an extent that, according to FLTF, the Terms of Use no longer correspond to the market demand as was thought when the Terms of Use were established. With the changed circumstances, it has become clear that offering a reloading service would significantly improve the utilization rate of the LNG terminal ship, thereby increasing its financial operating conditions, according to the FLTF. According to the feedback received from market participants, omitting the reloading service would exclude more users of the LNG terminal ship, which, on the other hand, would significantly reduce the potential use of the LNG terminal ship, according to the FLTF.
FLTF suggests that the changes to the Terms of Use would come into force from 1 October 2023 and the confirmation decision would be valid until the end of the 2023 gas year, until 1 October 2024.
The consultation responses shall be delivered by e-mail to the address [email protected]. The Finnish Energy Authority requests to refer in responses to the Finnish diary number 579/050304/2023.
For more information:
Finnish Energy Authority: leading expert Tiina Karppinen ([email protected] ) and legal adviser Buket Hertti ([email protected] )
Appendices
General terms and conditions amended
Terminal rules amended
Annex 6 Calculation of guarantees and penalties amended
Joint Terminal Use Rules amended
