LNG

The second liquefied natural gas import terminal constructed in Finland, the Manga Tornio facility on the Finland-Sweden border, has received its first LNG cargo ahead of the start of commercial operations in 2018.

Oct 25 (LNGJ) - Wartsila, the Finnish propulsion equipment and power and project company, posted a 1 percent fall in third-quarter pretax profits to 114 million euros ($134M) as net sales rose 9 percent to 1.17 billion euros from 1.07Bln euros in the same three months a year ago. “Wartsila’s performance in the third quarter was satisfactory,” said Jaakko Eskola, President and Chief Executive. “Although power plant deliveries continued to drive overall sales development, challenges in the offshore segment and low volumes from service projects resulted in lower than expected sales growth,” he added. “I am pleased with the continued growth in order intake. In addition to good demand for our power solutions, we received an order to build our third LNG terminal in Finland, which will be in Hamina,” said the CEO.