The Finnish state-owned natural gas transmission system operator Gasgrid Finland has announced the completion of Finland’s first floating storage and regasification unit (FSRU), located in the port of Inkoo (southern Finland), which is now ready start commercial operations. This announcement comes after the integration of the 5 bcm/year “Exemplar” FSRU into Gasgrid’s network was completed.
The floating LNG import terminal, which includes a 2.2 km connecting pipeline, is now fully ready for use and gas deliveries are expected to begin in the coming weeks. The FSRU “Exemplar”, which can hold around 68 kt of LNG when fully loaded, will serve Finland and other Baltic states under a 10-year charter deal Gasgrid signed with the US company Excelerate in May 2022. Gasgrid leased the 291 m wide FSRU from Excelerate for a total cost of €460m.
In 2021, Finland imported and consumed nearly 2.6 bcm of natural gas, mostly from Russia. In 2020, the country supplied 100% of Finland’s gas by pipeline. However, due to the situation in Ukraine, Moscow suspended natural gas deliveries to Finland in May 2022.
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