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Our five-year journey at the heart of the energy transition has been eventful and momentous. The opening of the gas market, construction of the LNG terminal, ensuring the security of supply of gas transmission owing to the war in Ukraine, and the promotion of hydrogen development projects testify to our organisation’s agility in changing circumstances and its capacity for innovation.
The derogation from compliance with EU gas market legislation granted to Finland by the European Union ended when the Balticconnector pipeline was completed, and the gas market was opened to competition on 1 January 2020. At the same time, transmission network operations were unbundled from Gasum Ltd, and since 1 January 2020, the gas transmission system operator Gasgrid Finland Oy, owned by the State of Finland, has been responsible for gas transmission in Finland.
Our operations took off with the commissioning of the Balticconnector offshore pipeline. The pipeline connects Finland’s and Estonia’s gas markets, enabling the import of gas through the Baltics, thus improving Finland’s energy security. The pipeline is a key component in the opening of the market and a strategic investment in a more diverse energy supply.
In 2021, we launched our research and development activities and our co-operation with Fingrid to investigate the hydrogen economy and energy transition. We joined the European Hydrogen Backbone initiative and put Finland on Europe’s hydrogen infrastructure map.
In December, the Act on Guarantees of Origin for Energy entered into force and we were put in charge of maintaining the register of guarantees of origin (GO) for gas and hydrogen. The register was introduced in April 2022.
In 2022, we guaranteed the security of gas supply thanks to the LNG terminal project in Inkoo and stopped importing Russian natural gas when the war broke out in Ukraine. The success of the terminal project can be attributed to effective collaboration with stakeholders and the personnel’s strong commitment.
At the same time, we helped advance the hydrogen infrastructure and market in order to support Finland’s energy independence and industrial investments. We announced three major international projects together with our international partners: Nordic Hydrogen Route, Nordic-Baltic Hydrogen Corridor and Baltic Sea Hydrogen Collector.
The LNG terminal ship began operating in Inkoo’s deep harbour in January 2023, securing Finland’s gas supply in the autumn and winter of 2023–2024 when the Balticconnector offshore pipeline between Finland and Estonia was out of commission due to damage.
In November, the international hydrogen infrastructure development projects which we promote with our partners were added to the European Commission’s list of Projects of Common Interest (PCI).
In February 2024, Gasgrid was accepted as a member of the Association of Issuing Bodies (AIB) Gas Scheme, and in future, the company will issue both national and European EECS (European Energy Certificate System) guarantees of origin.
In April, Balticconnector was recommissioned following record-fast inspection and repair work. In the same month, we released the first route alternatives for the hydrogen infrastructure. In November, we updated the routing plan. The planned route will run along the western coast and will be built in areas with the greatest hydrogen production and consumption potential.
In April, also the hydrogen infrastructure projects which we promote with our partners – the Nordic Hydrogen Route, Nordic-Baltic Hydrogen Corridor and Baltic Sea Hydrogen Collector – were awarded the European Commission’s approval for the EU’s Projects of Common Interest (PCI) status.
The Baltic Sea Hydrogen Collector, Nordic Hydrogen Route and Nordic-Baltic Hydrogen Corridor hydrogen infrastructure projects received altogether EUR 51.4 million in EU funding. The projects advance Finland’s and the Baltic Sea region’s hydrogen infrastructure, support the energy transition and bolster the region’s energy security.
The national hydrogen transmission network project advanced to the EIA procedure in May. During the year, we carried out watercourse surveys in 12 municipalities and arranged a total of 25 events for landowners.
In September, we released the first hydrogen information package to support the development of the hydrogen market. In October, we issued Finland’s first-ever guarantees of origin for the renewable hydrogen produced at P2X Solutions’ Harjavalta plant.
