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Finland Allocates Seven Summer LNG Slots at Inkoo

LNG

Lower European gas prices are encouraging increased LNG interest from Baltic nations as they look to replace Russian gas supplies. The Baltic nations have banned Russian LNG imports, unlike other European countries.

  • Estonia’s Eesti Gaas will release a tender in the next few weeks to buy seven LNG cargoes for delivery from April through September. Delivery slots are the first to be booked at the new floating terminal at Inkoo in Finland.
  • Finland's new floating storage and regasification unit in Inkoo started commercial operations in mid-Jan but may go unused in Q1 2023 with limited gas demand and an inability to share cargoes
  • Lithuania is also looking to buy a cargo for delivery in May into the Klaipeda terminal.
  • Eesti Gaas also secured three slots at the Klaipeda LNG terminal with one cargo delivered in January and two more in March.
  • Despite the move away from Russian energy supplies Europe is still importing a significant amount of Russian LNG.

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