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

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.

- Advertisements -

Most Popular

Tellurian says Shell, Vitol LNG supply deals terminated

US LNG firm Tellurian, the developer of the Driftwood LNG export project in Louisiana, said on Friday that its...

UAE’s Adnoc to supply LNG to Germany’s RWE

UAE’s Adnoc and Germany's RWE have signed a supply deal on the first commercial LNG delivery to the Brunsbuettel...

Energy Infrastructure Partners buys stake in Fluxys

Switzerland-based investor Energy Infrastructure Partners (EIP) has signed a deal to buy a stake in Belgian LNG terminal operator...

More News Like This

Finland’s Hamina LNG terminal complete, enters commissioning phase

Hamina LNG is nearing the launch of commercial operations at its liquefied natural gas (LNG) import facility in Finland’s...

Finland’s Gasgrid says to start commissioning FSRU terminal in December

Finnish state-owned natural gas transmission system operator, Gasgrid, is planning to install Excelerate Energy's FSRU in Inkoo or Estonia's...

E.ON, TES, Engie to deploy Excelerate’s FSRU in Germany

Germany's E.ON, Belgium-based Tree Energy Solutions (TES), and a unit of France’s Engie will deploy an FSRU chartered from...

Excelerate’s FSRU heads to Europe after completing Argentina job

Excelerate Energy’s 150,900-cbm FSRU Exemplar is heading towards Europe after the 2010-built LNG vessel completed its winter supply contract...