Finnish energy companies Gasgrid and Fortum have agreed to place Finland’s first floating LNG terminal, the FSRU Exemplar, at Fortum’s Port of Inkoo.
Inkoo is a deep water port located on the southern coast of Finland. It is close to gas pipelines distributing gas mainly to industrial end users in the Baltic region. The objective of this development is mainly to allow independence from the Russian gas pipeline. The supply of Russian gas through the Imatra entry point was stopped in May.
Finland’s Gasgrid is leasing Excelerate Energy’s floating LNG terminal for 10 years. It aims for the terminal to be available from next winter. The ship’s capacity is sufficient for the gas needs of Finland and Estonia.
“It is important for our economy that the floating LNG terminal ensures the supply of gas for our industry. The next step is to stick to the schedule and prepare for port,” said Mika LintilaMinister for Economic Affairs of Finland.
“The ship project is absolutely essential for the security of natural gas supply in the Baltic region – and therefore extremely urgent. I am happy that the decision on the location of the terminal was made in such a short time. As the need for the terminal covers the entire Baltic Sea region, Inkoo offers an excellent location for the vessel,” said Olli SipilaCEO of Gasgrid Finland.
“Our port of Inkoo is located on the site of our decommissioned coal power plant and provides near-ready infrastructure and an optimal location for the country’s first floating LNG terminal. Going forward, our plan is to further develop industrial activity on the site, so that it can contribute to the decarbonisation of society,” said the CEO of Fortum Markus Rauramo.
The Inkoo port of Fortum is accessible by a suitable sea route, has a ready-made jetty, is close to the Balticconnector gas pipeline between Finland and Estonia and is available at short notice. Furthermore, Inkoo has already undergone the necessary environmental impact assessments in 2014 and 2015.
Besides Inkoo, Gasgrid Finland and the Estonian electricity and gas transmission system operator Elering continue to develop a potential site in Estonia, as initially planned.
The FSRU specimen is 291 meters long and 43 meters wide. It has a volume of around 151,000 cubic meters, corresponding to around 68,000 tonnes of LNG.