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Leasing floating LNG terminals to alleviate gas shortages in Finland, Estonia and Russia

https://sputniknews.com/20220610/finland-estonia-to-lease-floating-lng-terminal-to-alleviate-lack-of-russian-gas-1096175047.html

Leasing floating LNG terminals to alleviate gas shortages in Finland, Estonia and Russia

Leasing floating LNG terminals to alleviate gas shortages in Finland, Estonia and Russia

A liquefied natural gas project worth nearly $ 500 million has been called since the Russian gas cutoff due to refusal to pay in the ruble … 10.06.2022, Sputnik International

2022-06-10T06: 04 + 0000

2022-06-10T06: 04 + 0000

2022-06-10T06: 04 + 0000

Finland

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Oil and gas

Russia

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Finland and Estonia are planning to jointly lease a approximately 300 meter long liquefied natural gas (LNG) terminal to secure a supply of gas imports following the recent cutoff from Russia. Russia stopped exporting LNG to Finland in May because Helsinki refused to pay. In the ruble at the request of Moscow. Earlier, Estonia declared that it would never pay in rubles or buy Russian gas. The cutoff has endangered several industrial sectors, including the gas-dependent bakery, forestry and oil industries. The Exampler is a huge ship 291 meters long and 43 meters wide with a gas storage capacity of 151,000 cubic meters. She was built in 2010 and sails under the Belgian flag. According to energy companies Gasgrid Finland and Fortum, it will be leased for 10 years from US-based Excelerate Energy, and the terminal will be available by winter and docked at Inkoo’s South Harbor. The two companies estimate the total cost of the LNG terminal ship project to be approximately € 460 million (approximately € 490 million) under a 10-year lease agreement. There are also costs associated with usage. “This marine project is absolutely essential to ensure the safety of the Baltic countries’ natural gas supply and is therefore very urgent. We are pleased that the terminal location decision was made on such a fast schedule. Inkoo provides the best location for vessels, as the need for terminals covers the entire Baltic region, “Gasgrid CEO Olli Sipilä said in a statement. Take swift action. ” “It is important for our economy that floating LNG terminals secure gas supplies for our industry. The next step is to keep schedules and prepare ports,” Lintilla said in a statement. .. With a maximum capacity of about 68,00 tons of LNG, or more than 40 TWh per year, this ship has historically had an annual demand for natural gas in Finland of about 25 TWh in Russia. President Vladimir Putin has instructed the government and national energy giant Gazprom to switch to ruble payments of gas supplies to each country, which has imposed sanctions on Russia for special military operations in Ukraine. Gazprom has already stopped supplying gas to several countries, including Bulgaria, Poland and Finland, after rejecting the new payment scheme. Until recently, gas accounted for about 8 percent of Finland’s energy.

https://sputniknews.com/20220602/abandoned-by-russian-tourists-finland-counts-losses-from-sanctions-1095936574.html

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Finland, Europe, Oil and Gas, Russia, Gazprom, Estonia

Nearly $ 500 million of liquefied natural gas projects have been called “absolutely essential” to secure natural gas supplies in the Baltic region, and are therefore “extremely urgent” since Russia’s gas was refused to pay the ruble. be.

Finland and Estonia are planning to jointly lease a approximately 300 meter long liquefied natural gas (LNG) terminal to secure a supply of gas imports following the recent cutoff from Russia.

Russia stopped exporting LNG to Finland in May after Helsinki refused to pay in the ruble at Moscow’s request. Earlier, Estonia declared that it would never pay in rubles or buy Russian gas. The cutoff has endangered several sectors of the industry, including the gas-dependent bakery, forestry and oil industries.

The Exampler is a huge ship 291 meters long and 43 meters wide with a gas storage capacity of 151,000 cubic meters. She was built in 2010 and sails under the Belgian flag. According to energy companies Gasgrid Finland and Fortum, it will be leased for 10 years from US-based Excelerate Energy, and the terminal will be available by winter and docked at Inkoo’s South Harbor. The two companies estimate the total cost of the LNG terminal ship project to be approximately € 460 million (approximately € 490 million) under a 10-year lease agreement. There are also costs associated with usage.

“The ship project is absolutely essential for the safety of the Baltic countries’ natural gas supply and is therefore very urgent. We are pleased that the terminal location decision was made on such a fast schedule. Inkoo provides an excellent location for vessels, as the need for gas covers the entire Baltic region, “Gasgrid CEO Olli Sipilä said in a statement.

Finland’s economic minister, Mika Lintilä, thanked the two companies for “taking swift action” and upheld the new deal.

“For our economy, it is important for floating LNG terminals to secure gas supplies for our industry. The next step is to keep schedules and prepare ports,” Lintilla said in a statement. increase.

Finland abandoned by Russian tourists counts losses due to sanctions

With a maximum capacity of approximately 68,00 tonnes of LNG, or more than 40 TWh per year, the vessel is expected to be able to meet the annual demand for Finnish LNG alone.

Historically, Finland’s annual natural gas demand was about 25 TWh per year.

In March, Russian President Vladimir Putin instructed the government and national energy giant Gazprom to switch to ruble payments of gas supplies to countries that have imposed sanctions on Russia for special military operations in Ukraine. Gazprom has already stopped supplying gas to several countries, including Bulgaria, Poland and Finland, after rejecting the new payment scheme.

Until recently, gas accounted for about 8 percent of Finland’s energy.

https://sputniknews.com/20220610/finland-estonia-to-lease-floating-lng-terminal-to-alleviate-lack-of-russian-gas-1096175047.html Leasing floating LNG terminals to alleviate gas shortages in Finland, Estonia and Russia

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