The Finnish gas transportation company Gasgrid Finland has signed an agreement to lease the Exemplar floating liquefied natural gas (LNG) terminal from the American company Excelerate Energy, which specializes in transport solutions for this type of fuel. This is stated in a statement issued by the Finnish company on Friday.
“Today, Gasgrid Finland Oy and Excelerate Energy signed an agreement to lease a floating LNG terminal for a period of 10 years,” the document says. This project will allow Finland and Estonia to become completely independent of Russian gas supplies, the company adds.
The volume of the terminal at full load is 151 thousand cubic meters. m, which is equivalent to 68 thousand tons of LNG. According to Gasgrid experts, this is enough to cover the combined gas needs of both republics.
LNG will be delivered two to three times a month. The terminal, which is scheduled to be put into operation next winter, will be located off the southern coast of Finland. The total cost of the project is estimated at €460 million, excluding the cost of LNG supplies themselves.