EuropeLNG Terminals

Gasgrid and Fortum finalize deal on Finland’s first FSRU terminal

By LNG Prime Staff
Gasgrid and Fortum finalize deal on Finland’s first FSRU terminal
Image: Excelerate Energy

Finland’s Gasgrid and Fortum have finalized the previously announced deal to place the country’s first FSRU in the port of Inkoo.

In June, the two firms signed a letter of intent on placing the chartered FSRU Exemplar at Fortum’s Inkoo port.

Excelerate Energy’s 150,900-cbm Exemplar will serve Finland, Estonia, and other Baltic states under a 10-year charter deal Gasgrid signed with the US LNG firm in May.

The FSRU can supply more than 5 billion cubic meters per year of regasification capacity.

”The teams at Gasgrid and Fortum have done great work over the summer. The preliminary agreement signed earlier paved the way for the agreement now signed to place the floating LNG terminal in the port of Inkoo,” Gasgrid’s CEO Olli Sipila said in a statement on Wednesday.

Located on Finland’s south coast, the port in Inkoo is deep enough for the purpose and is close to pipelines along which gas flows to end-users in industrial and other sectors in Finland, Estonia, and the Baltic Sea region, the statement said.

According to Gasgrid, work has already started on building the port structures and natural gas pipeline.

“The ambition is to begin deploying the LNG terminal vessel in December 2022,” it said.

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