Norterminal / Fefo / Sør-Varanger Kommune (english)

TRANSLATION FROM NORWEGIAN

Vadsø,  Norway,  15 January, 2013

Norterminal / Fefo  / Sør-Varanger Kommune

Norterminal AS and Finnmarkseiendommen (FeFo), has today signed an agreement for a long term lease for a land area of approximate 100 hectares along the coastline on Gamneset in the Kors fjord, in the county of Sør -Varanger Kommune.  The area has been determined by Norterminal AS as the optimal location for a large scale oil, petroleum, or gas terminal.  The agreement is conditional upon the areas being re regulated for industrial use.  Sør -Varanger Kommune’s re regulating process will commence immediately.

Sverre Pavel, leader for FeFo, commented the agreement: “Fefo is happy to enter a commercial agreement with Norterminal AS which can have a large impact on the development of all of East Finnmark.”  Director of FeFo, Jan Olli, added “It is important that Fefo contributes its areas and resources for the purpose of creating values and the basis for new employment in Finnmark.”

Cecilie Hansen, Mayor of Sør -Varanger Kommune, commented the agreeement :  Our kommune (county) is quite pleased that an agreement has been reached between Norterminal and FeFo  for a long term lease in the Gamnesbukt.  We see this as a large step in the right direction for the development of the town of Kirkenes as a future centre for the oil and gas industry in the eastern Barents Sea and a transportation hub for the Northern sea route.   Our Kommune is now looking forward to the work with realizing the project and re-regulation process so we can contribute to achieving Norterminal’s progress plan.

 

Jacob B. Stolt-Nielsen, President of Norterminal AS, commented the agreement: We are very happy to have reached a long term lease agreement with FeFo for land well suited for a terminal.  The discussions with FeFo have given us a better understanding of the needs of the Finnmark and Sør-Varanger community.  This understanding is important for the futured development of Nortemrinal.  The negotiations with FeFo have been constructive and very positive and we look forward to continue the cooperation ahead.

 

Norterminal AS is developing a feasability study to build an oil, petroleum or gas terminal for the growing future production from the Barents Sea and the Arctic.  Norterminal’s vision is to establish a regional transhipment and storage terminal with the highest international design and operating standards.  The terminal will enable products to be exported directly to world markets in large, cost effective ships, in an environmentally friendly way.  The terminal infrastructure  will provide a long term solution and will replace current temporary logistics.  Norterminal AS estimates that the investments in the terminal will be between NOK 2-4 billion and shall be completed and operational in 2016-2017.  The project will create many new workplaces, and will have positive effects for the Finnmark community.

 

Kontakt;

–         Norterminal v/ Jacob B. Stolt-Nielsen, tlf. +47 47881038

–         FeFo v/leder grunn og rettigheter Sverre Pavel tlf. +47 48262246 eller direktør Jan Olli tlf. +47 95820286

–         Sør-Varanger kommune v/ Havard Lund tlf. +47 913 93814