St1 has been planning synthetic fuel production plant to be located in the Ihalainen mining area, Lappeenranta. According to the project plan, the next planning phase of the project should have been initiated in the fall of 2023 in order to meet the original schedule for starting production in 2026.
It has become clear that there are many uncertainties related to the project's profitability due to an undeveloped market. This situation applies to both road and marine transportation. In addition, the investment costs have increased significantly from the preliminary evaluation.
Project will not proceed to basic engineering phase on its original schedule. St1 will continue its work in developing P2X projects in Nordics.
Matti Oksanen, Director, Gas Business, St1 Nordic Oy, +358 10 557 11