Fortum and Gasgrid Finland have signed a letter of intent to moor Finland’s first floating LNG terminal vessel “Exemplar” at Fortum’s Inkoo port, 60 km west of Helsinki. The site, a deep-water port, is positioned near the gas-distributing pipelines connecting to industrial-end users around the Baltic Sea. The vessel is leased from Excelerate Energy for a ten-year period. The FSRU’s regasification capacity is 140 GWh/day (around 14 mcm/d or 5.2 bcm/year), exceeding Finland’s annual natural gas demand, which has historically been approximately 2.5 bcm/year. The storage and supply capacity of the vessel is sufficient for the gas needs of both Finland and Estonia. The aim is to make the floating storage and regasification unit (FSRU) available in winter 2022-2023.
In 2020, Russia supplied 100% of Finland’s gas imports by pipeline. Gazprom Export suspended natural gas deliveries to Finland in May 2022 after the country expressed its intention of joining NATO.
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