The Strategist

Finland leases floating LNG terminal

04/08/2022 - 07:50

According to the Finnish Ministry of Employment and Economic Development, Finland is leasing a big LNG terminal ship in partnership with Estonia in order to cut off gas supplies from Russia as soon as possible.

The Finnish Ministry of the Environment has ordered Gasgrid Finland Oy, in collaboration with the Estonian company Elering AS, to explain and agree on the leasing terms of the LNG terminal ship and to implement the project as soon as possible.

According to the ministry, the easiest option to assure the rejection of Russian pipeline gas is to build a floating LNG terminal.

"We must also prepare for a disruption in gas imports as a result of the conflict in Ukraine. A floating LNG terminal is an excellent approach to ensure gas supplies to our economy, among other things. I'd want to express my gratitude to the Estonian government for its good collaboration," Economy Minister Mika Lintilä stated.

According to the report, the Finnish government intends to have the terminal operational by next winter. The terminal ship will be docked in the south of Finland, where it will be connected to the natural gas transit network.