Certifications and regulatory verifications need in LNG Terminal operations
Lampinen, Mikko (2022)
Lampinen, Mikko
2022
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2022102621630
https://urn.fi/URN:NBN:fi:amk-2022102621630
Tiivistelmä
Energy markets have been changing rapidly in the past years. Environmental issues are guiding the industry towards more sustainable and responsible energy production methods. Tightened CO2 legislation and the high cost of fossil fuels are directing the industry towards renewable energy forms and bio based energy sources. Energy industry is highly regulated by the authorities’ requirements and mandatory verifications. To improve energy industry’s performance also non-mandatory certifications exist.
The aim of this thesis was to study the business environment of a LNG terminal operator, Hamina LNG Ltd. The objective was to present what voluntary certifications and regulatory verifications the development of the LNG terminal business requires. The subject was studied through the perspective of customers and the authorities. With the knowledge of the certificate and regulative requirements, the company could anticipate the changes inside the energy industry and gain competitive advantage over other operators.
This thesis was conducted by using qualitative research methods. Primary data was collected via semi structured interviews and pre-defined themes. Secondary data was collected from existing sources to confirm the findings with the primary data.
The study showed that while energy markets are highly regulated the companies have pressure from the customers and competitors so the industry also develops new solutions internally. The mandatory regulations are changing due to the security of supply and national safety concerns. The non-mandatory certifications are used to verify the responsible and sustainable actions of the companies. The green step towards bio fuels creates requirements to ensure the origin of energy sources. As a result this also obligates the LNG producers to certificate Bio LNG according to the national laws.
The aim of this thesis was to study the business environment of a LNG terminal operator, Hamina LNG Ltd. The objective was to present what voluntary certifications and regulatory verifications the development of the LNG terminal business requires. The subject was studied through the perspective of customers and the authorities. With the knowledge of the certificate and regulative requirements, the company could anticipate the changes inside the energy industry and gain competitive advantage over other operators.
This thesis was conducted by using qualitative research methods. Primary data was collected via semi structured interviews and pre-defined themes. Secondary data was collected from existing sources to confirm the findings with the primary data.
The study showed that while energy markets are highly regulated the companies have pressure from the customers and competitors so the industry also develops new solutions internally. The mandatory regulations are changing due to the security of supply and national safety concerns. The non-mandatory certifications are used to verify the responsible and sustainable actions of the companies. The green step towards bio fuels creates requirements to ensure the origin of energy sources. As a result this also obligates the LNG producers to certificate Bio LNG according to the national laws.