Estonia and Finland lease floating LNG terminal

Finnish and Estonian Economy Ministers Mika Lintilä and Taavi Aas signed a memorandum of cooperation on the LNG terminal lease on Friday, the Finnish Ministry of Economy reported.
The Finnish Cabinet decision was reported on April 7.
“Leasing a floating regasification unit for liquefied natural gas is the fastest way to gradually get rid of dependence on Russian pipeline gas. The goal is to have the terminal available for use next winter. Leasing the ship allows Finland to reduce its dependence on Russian pipeline gas,” the statement said.
The Memorandum of Understanding agrees on the terms of the ship lease and the practical implementation of the cooperation.
The terminal ship will be located on the southern coast of Finland in the immediate vicinity of the gas pipeline network. The necessary port facilities will be built in Finland and Estonia.
The gas transmission operator Gasgrid Finland Oy was assigned to assess and discuss in cooperation with the Estonian transport company Elering AS the LNG terminal ship lease terms and implement the project as soon as possible in order to guarantee the supply security, the Ministry specifies.