LNG floating terminal
The Finnish state has asked Gasgrid Finland Oy to investigate the addition of an LNG floating terminal vessel, or floating storage and regasification unit (FSRU), as an alternative to Finnish gas import. The lease of the terminal vessel will enable Finland to break out of its dependence on Russian pipeline gas. Ensuring security of supply in the event of uncertain and unpredictable situations is paramount. The fastest solution to ensure Finland’s security of supply and the continuity of gas supplies in all different scenarios is an LNG floating terminal. The ship secures Finland’s energy supply for both industry and households for a long time and is therefore an important project for the whole of Finland.
Latest project news
- The LNG floating terminal coming to Finland 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, liquefied natural gas, when fully loaded. This means approximately 1,050 GWh of energy content.
- The vessel’s evaporation capacity is 140 GWh/day and even more than 40 TWh per year, exceeding Finland’s annual natural gas demand, which has historically been approximately 25 TWh per year.
- The LNG terminal ship is anchored to the port structure, after which the liquefied natural gas is re-vaporized onboard. The gas is then fed to the existing gas network via a connecting pipeline in the port structures.
- The aim is to have the terminal vessel available next winter, and although its final location will be in southern Finland, new port structures suitable for the terminal vessel will be built on the coasts of both Finland and Estonia. If the construction work is completed first in Estonia, the terminal ship will be placed there to await the completion of the Finnish port structures.
- After commissioning the LNG for the terminal vessel is delivered by tankers from the global market, examples are Australia, Qatar, Norway, Malaysia, The U.S., and Algeria.
- The total cost of the LNG floating terminal project is estimated at EUR 460 million under a 10-year lease. In addition, there will be costs related to the volume of use.
Pictures of the LNG floating terminal vessel Exemplar. Source: Excelerate Energy, Inc. Please mention the source if you publish or share any of the pictures.
Terminal rules, terms & conditions and contracts
- Terminal Service Contract
- Joint Terminal Use Contract
- Annex 3 – Quality volume measurement and inventory specification
- Annex 4 – Form of Affiliate Guarantee (financial requirements)
- Annex 5 – Form of Bank Guarantee (financial requirements)
- Annex 7 – Form of Bank Guarantee (request of Terminal Capacity)
- Annex 8 – Form of Terminal Capacity allocation request
- Annex 9 – Capacity Allocation Procedure and Annual Service Schedule timeline
- Annex 10 – Form of Individual Annual Service Schedule
- Annex 11 – Form of Scheduled Slot transfer agreement
- Annex 12 – Form of Daily Unload Nomination
- Annex 13 – Conversion table