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

Dynagas FSRU ready to start Stade job

The 174,000-cbm FSRU Transgas Force, owned by Dynagas, has left Germany's Bremerhaven and will now work as an LNG...

Charif Souki steps down as chairman of Tellurian

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

QatarEnergy, ExxonMobil expect first LNG from Golden Pass plant in H1 2025

Energy giants QatarEnergy and ExxonMobil are expecting to start LNG production at their Golden Pass LNG export terminal on...

More News Like This

Finland-Estonia gas pipeline to get capacity boost

Finland’s gas system and LNG terminal operator, Gasgrid, and Estonian gas system operator, Elering, have revealed plans to boost...

Excelerate makes management changes

US FSRU player Excelerate Energy has announced management changes, including the departure of its chief commercial officer Daniel Bustos. Excelerate...

Excelerate looking to order another FSRU

US floating LNG player Excelerate Energy is looking to order another floating storage and regasification unit (FSRU), the company's...

Excelerate seals 15-year LNG supply deal with Petrobangla

US FSRU player Excelerate Energy has signed a 15-year liquefied natural gas (LNG) supply deal with Bangladesh’s state-owned Petrobangla. Bangladesh...