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Estonia Gives Up Stake in Finnish LNG to Buy Additional Gas Reserves

LNG

The Estonian three-party government has decided that Estonia will give up its stake in the company that operates the Finnish LNG terminal

  • They plan to spend the €30m budgeted for this purpose to buy additional gas reserves according to Estonian news ERR last week.
  • "We decided not to acquire a stake in the company that operates the Finnish LNG terminal and use the €30mn set aside in the supplementary budget for this purpose to replenish Estonia's gas reserves," Prime Minister Kaja Kallas said at a government press conference.
  • Earlier this year Finland and Estonia jointly agreed to charter a floating storage and regas vessel which will be based in Finland’s Inkoo port. The charter is for 10-years with over 4bcf/yr of regas capacity ensuing gas supplies on equal terms to both countries. The Balticonnector gas pipeline can be used to flow gas between the two countries.
Energy BulletsCommodities
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