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Inkoo LNG terminal project was implemented at record speed to secure Finland’s gas supply.
In early 2022, the Finnish government tasked Gasgrid Finland Oy to investigate adding a floating LNG terminal ship, or floating storage and regasification unit (FSRU), as an option for gas imports to Finland. Thanks to good cooperation with stakeholders, the terminal project was completed in record time and commercial operations began in January 2023. Leasing a terminal ship enabled Finland to break its dependence on Russian pipeline gas.
Uncertainty in the gas market and operating environment increased during 2021, prompting the Finnish government to task Gasgrid Finland with investigating alternatives to pipeline gas. Based on the investigations, a floating LNG terminal (FSRU) was the only viable solution with a sufficient schedule and capacity to ensure security of supply, safety, and the functioning of the energy market in all circumstances. Also Estonia came to the same conclusion. In April 2022, Gasgrid began investigating the terminal project together with the Estonian transmission system operator Elering AS, and in May, Gasgrid Finland and the US company Exaclerate Energy signed a 10-year agreement for an LNG terminal vessel. In August 2022, Fortum’s port in Inkoo was confirmed as the location for the terminal vessel, and construction work began. To be on the safe side, port structures were also built in Estonia at the same time. On December 28, 2022, the terminal ship FSRU Exemplar was anchored in the port of Inkoo, and the next day the terminal was connected to the gas pipeline network. Commercial use of the terminal began on January 16, 2023. The terminal is operated by Gasgrid’s subsidiary, Floating LNG Terminal Finland Oy. The leased LNG terminal ship ensures the supply of gas to industry, heavy transport, and combined heat and power production. At the same time, the terminal serves the wider needs of the Baltic Sea region. Importin Russian gas to the terminal is forbidden, and the LNG terminal has enabled Finland to break its dependence on Russian gas. The cornerstones of the project’s success included Finland’s rapid response to the changed situation, the commitment of partners and various stakeholders to the project, and everyone pulling together. Watch a documentary on how the terminal ship project was implemented:
