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Inkoo FSRU is a liquefied natural gas (LNG) import terminal operating in Finland.[1][2]
Location
The terminal is proposed to be located at Fortum's Inkoo port, in the Southern Coast of Finland.[3]
Project details
- Owner: Gasum Oy[6]
- Vessel: Excelerate Exemplar[8]
- Vessel operator: Excelerate Energy[6]
- Vessel owner: Excelerate Energy[8]
- Vessel parent company: Excelerate Energy[8]
- Location: Inkoo port, Southern Coast of Finland[9]
- Coordinates: 60.013697, 23.91506[3]
- Capacity: 5 bcm/y[8]
- Status: Operating[2]
- Type: Import
- Start year: 2023[10]
- Financing:
- FID status: FID
- Associated infrastructure: Paldiski FSRU, Baltic Pipe Project
Background
In April 2022, Gasgrid Finland Oy and Estonian gas transmission system operator Elering AS began researching renting a floating LNG terminal. The companies said a FSRU is the "best solution for reducing the risks related to the gas flows from Russia," and Gasgrid hoped to "complete it on an exceptionally rapid schedule."[11] On April 29, Finland and Estonia published a memorandum of understanding on co-operation to rent a LNG floating terminal.[12]
On May 4, 2022, Gasgrid and Elering signed an agreement regarding the project. At that point, the companies aimed to have terminal commissioned by winter of 2022.[12]
On May 20, 2022, Gasgrid signed an agreement with Excelerate Energy to lease a floating terminal vessel, called Exemplar, for the duration of ten years.[13] According to Gasgrid, "the total cost of the LNG terminal vessel project with the 10-year lease is estimated to be at EUR 460 million, in addition to which there are separate costs associated with the volume of use."[13] The regasification capacity of the vessel is 140 GWh/day (around 14 mcm/d or 5.2 bcm/year).[9]
In June 2022 Gasgrid and Fortum signed a letter of intent placing the FRSU in Fortum Inkoo port. According to a fact sheet from that same month, "Commissioning of the LNG floating terminal will be between Q4/2022 and Q4/2023."[1]
According to a June 10 2022 article, Gasgrid Finland and Elering are additionally working on a site in Estonia, Paldiski FSRU, together as well.[4]
Construction on the terminal began in August 2022.[14]
In October 2022, Finland and Estonia reached an agreement that the FSRU shared by Inkoo FSRU and Paldiski FSRU would be placed in the Port of Inkoo first.[15]
In November 2022, Gasgrid said that it was expecting the first commissioning cargo of LNG to arrive at the FSRU in December, while commercial operations should start in January 2023.[10] The same month, the Estonian government decided not to acquire a stake in the terminal, as it had previously planned to do so, and instead use 30 million euros allocated for that purpose to buy additional gas volumes.[16]
In December 2022, Excelerate's FSRU Exemplar arrived at the port of Inkoo.[17]
In January 2023, it was announced that Inkoo FSRU was operational.[2] In April 2023, it received its first shipment.[18]
In October 2023, the Balticconnector Gas Pipeline between Finland and Estonia, which runs to Inkoo FSRU, was shut down due to a leak. The leak was initially suspected to have occurred due to an explosion, although Finnish investigators later found the pipeline had been damaged by a loose anchor.[19][20]
Articles and resources
References
- ↑ 1.0 1.1 "LNG floating terminal". Gas Grid. Retrieved June 30, 2022.
{{cite web}}: CS1 maint: url-status (link) - ↑ 2.0 2.1 2.2 ERR News | ERR (2023-01-17). "Finland's Inkoo LNG terminal now operational". ERR. Retrieved 2023-01-18.
- ↑ 3.0 3.1 "Finland's first floating LNG terminal to be placed in Fortum's Inkoo port". GasGrid. June 9, 2022. Retrieved June 30, 2022.
{{cite web}}: CS1 maint: url-status (link) - ↑ 4.0 4.1 "Gasgrid to place Exemplar floating LNG terminal at Inkoo port in Finland". NS Energy. June 10, 2022. Retrieved June 30, 2022.
{{cite web}}: CS1 maint: url-status (link) - ↑ "Gasgrid Finland Oy and Excelerate Energy, Inc. have agreed to lease an LNG terminal vessel – the LNG terminal vessel Exemplar will ensure Finland's security of supply while also serving the needs of the Baltic Sea region more widely". GasGrid. May 20, 2022. Retrieved June 30, 2022.
{{cite web}}: CS1 maint: url-status (link) - ↑ 6.0 6.1 6.2 6.3 GIIGNL. The LNG Industry: Annual GIIGNL Report. June 2024.
- ↑ "State shareholdings and parliamentary authorisations - Prime Minister's Office". Valtioneuvoston kanslia. Retrieved 2022-06-30.
- ↑ 8.0 8.1 8.2 8.3 "Excelerate Energy and Gasgrid Finland Sign FSRU Charter Agreement". Excelerate Energy. May 20, 2022. Retrieved June 30, 2022.
{{cite web}}: CS1 maint: url-status (link) - ↑ 9.0 9.1 "Fortum and Gasgrid Finland will locate Finland's first FSRU at Inkoo port". www.enerdata.net. 2022-06-09. Retrieved 2022-06-30.
- ↑ 10.0 10.1 Excelerate says FSRU Exemplar to start work in Finland in December, LNG Prime, Nov. 10, 2022
- ↑ "Gasgrid Finland and Estonian gas TSO Elering AS researching the renting of a LNG floating terminal". GasGrid. April 7, 2022. Retrieved June 30, 2022.
{{cite web}}: CS1 maint: url-status (link) - ↑ 12.0 12.1 "Gasgrid Finland and Elering have signed a Cooperation Agreement on the renting of a LNG floating terminal". Gasgrid. May 4, 2022. Retrieved June 30, 2022.
{{cite web}}: CS1 maint: url-status (link) - ↑ 13.0 13.1 "Gasgrid Finland Oy and Excelerate Energy, Inc. have agreed to lease an LNG terminal vessel – the LNG terminal vessel Exemplar will ensure Finland's security of supply while also serving the needs of the Baltic Sea region more widely". Gasgrid. May 20, 2022. Retrieved June 30, 2022.
{{cite web}}: CS1 maint: url-status (link) - ↑ Ajsa Habibic (2022-12-21). "Gasgrid wraps up works to launch Inkoo LNG terminal, awaits FSRU arrival early next week". Offshore Energy. Retrieved 2023-01-23.
- ↑ LNG Prime Staff (2022-10-11). "Finland, Estonia agree to place Excelerate's FSRU in Inkoo". LNG Prime. Retrieved 2022-12-13.
- ↑ "Estonia drops plans for stake in Finnish LNG terminal | Argus Media". 2022-11-03. Retrieved 2023-02-02.
- ↑ "Finland gets floating LNG terminal to replace Russian gas". AP NEWS. 2022-12-28. Retrieved 2023-01-03.
- ↑ "Finland's new LNG terminal gets its first shipment - UPI.com". UPI. Retrieved 2023-04-04.
- ↑ "Balticonnector gas leak probably had 'external' cause | Argus Media". www.argusmedia.com. 2023-10-10. Retrieved 2024-02-01.
- ↑ Afanasiev (v_afanasiev), Vladimir (2023-11-24). "Finland to boost Balticconnector capacity after repairs". Upstream Online | Latest oil and gas news. Retrieved 2024-02-02.
