Meeting global energy demands whilst working towards carbon neutrality is no easy feat, especially for some countries that rely on imports from others. When it comes to worldwide political tensions, the going gets even tougher. Fortunately for Finland, it may be in the midst of a new hydrogen rush, as the country sought freedom from Russian gas, and found “the new oil” below the snow instead. Will this second chapter truly be the breakthrough Finland needed for its energy security? Let’s find out.
Seeking freedom from Russian gas and beyond
For fifty years, Finland relied on Russia for gas supply. It has also relied on Russian oil and raw material supplies for quite some time, highlighting Russia’s grip on Finnish energy security. However, in May 2022, natural gas imports from Russia were stopped abruptly. According to NPR, this was reportedly a swift decision that followed Finland’s application to join NATO.
This decision did not affect Finland as much, as it quickly turned to Liquefied Natural Gas (LNG) imports from Norway and the US at the end of 2023. However, Finland has significant plans regarding its energy security, with plans to transition away from Russian imports entirely and achieve carbon neutrality by 2035. To achieve this freedom, it seems Finland will depend on “the new oil” found below the snow.
Find out below what this second chapter’s “new oil” has in store for Finland.
Hydrogen rush, chapter 2: Finland found “the new oil” below the snow
A Finnish/Greenlandic-focused resource company called 80 Mile has been conducting substantial research for sources of hydrogen in Finland. On October 21, 2024, the company announced that it had discovered significant concentrations of natural hydrogen in the Hammaslahti area in North Karelia. Finland has become a great resource for hydrogen, with Western Finland dubbed the new hydrogen valley hub.
However, 80 Mile also found what can be perceived as “the new oil” below the snow (metaphorically speaking) in two historical drill holes in the Hammaslathi area. “The new oil” is none other than helium. According to a report by Fuel Cell Works, the historic drill hole presented helium concentrations of 8.90%, which stabilised at 7.10%
The Hammaslath Project was the first to document the presence of natural hydrogen and helium on the surface of the area. This discovery has significant advantages in store for Finland.
Advantages of this discovery for Finland
The managing director of 80 Mile, Eric Sondergaard, stated that this discovery could be strategically exploited. In a statement, he added:
“The detection of hydrogen and helium is a major step forward for our operations. This region could become a key supplier of these resources to industry. Hydrogen is a key component in the global shift towards cleaner energy, and the presence of helium – and increasingly critical resource for advanced technologies – further enhaces the strategic value of this project.”
According to Caliber, the helium discovery could help Finland secure its position in a market that Russia, the US, and Qatar have historically dominated. While this potential shift in global supply dynamics may increase political tensions, the advantages it has in store for Finland’s energy security and economy more than make up for it. Furthermore, advanced technology sectors will significantly benefit, including the:
- Health sector
- Aerospace sector
- Electronics sector
80 Mile announced that it will speed up its exploration of the Hammaslathi area and commence extraction as soon as possible. The snowy and picturesque Finland will thus soon be known for so much more than its serene landscapes, as it moves towards its second chapter, which comprises not only a hydrogen rush but also helium. Furthermore, the country will be one step closer to achieving its climate goal. Finland’s Kalla test facility has also produced its first hydrogen, highlighting the country’s contributionto global sustainable energy development.
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