Finland’s first FSRU to be placed at Fortum’s Inkoo port

Finnish energy companies Gasgrid and Fortum have agreed on placing Finland’s first floating LNG terminal, the FSRU Exemplar, at Fortum’s Inkoo port.

Inkoo is a deep-water port located on the Southern Coast of Finland. It is in close proximity to the pipelines distributing the gas mainly to industrial end-users in the Baltic region. The goal of this development is mainly to enable independence from Russian pipeline gas. Russian gas supplies through the Imatra entry point have been stopped in May.

Finland’s Gasgrid is leasing the floating LNG terminal vessel from Excelerate Energy for a duration of 10 years. It aims to have the terminal available already next winter. The vessel’s capacity is sufficient for the gas needs of both Finland and Estonia.

“It is important for our economy that the floating LNG terminal ensures the gas supply of our industry. The next step is to stay on schedule and get the port ready,” said Mika Lintilä, minister for economic affairs of Finland.

”The vessel project is absolutely essential for the security of supply of natural gas in the Baltic region – and therefore extremely urgent. I’m pleased that the decision on the location of the terminal was made in such fast schedule. As the need for the terminal covers the entire Baltic Sea region, Inkoo provides an excellent location for the vessel,” said Olli Sipilä, CEO of Gasgrid Finland.

”Our Inkoo port is located on the site of our decommissioned coal power plant and provides nearly ready-to-use infrastructure and an optimal location for the country’s first floating LNG terminal. In the future, our plan is to further develop industrial activity on the site, so that it can contribute to the decarbonisation of society,” said Fortum’s CEO Markus Rauramo.

Fortum’s Inkoo port is accessible by a suitable sea lane, has a ready-to-use pier, is in close proximity to the Balticconnector pipeline between Finland and Estonia, and is available at short notice. Furthermore, Inkoo has undergone the necessary environmental impact assessments already in 2014 and 2015.

In addition to Inkoo, Gasgrid Finland and the Estonian electricity and gas transmission system operator Elering continue to develop a potential site in Estonia, as originally planned.

The FSRU Exemplar is 291 meters long and 43 meters wide. It has a volume of approximately 151,000 cubic meters, corresponding to approximately 68,000 tonnes of LNG.