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Gasum doesn’t believe in Estonia's victory in the LNG terminal contest

BC, Tallinn, 18.06.2013.Print version
The Friday issue of Helsingin Sanomat wrote that the Finnish natural gas company Gasum believes in the victory of the Finnish Inkoo in the competition between Estonia and Finland over building a regional LNG terminal, the location for which will be chosen by the European Commission, LETA/Äripäev writes.

Should Estonia be chosen as the location, Gasum won't have any interest in financing the terminal or the gas pipeline Balticconnector connecting the two states, wrote the newspaper. Then it is better for Finland to consider building a smaller terminal in Porvoo.

 

Gasum thinks that its advantage is that it is easier or the company to find financing than it is for Estonians. Also they have hired Finland's one of the most experienced energy projects builder Timo Kallio to head the project. "If the LNG project goes according to plans, the terminal could be launched in 2018," said Kallio.

 

The EU looks at the project as a whole, including the terminal and the gas pipeline between Estonia and Finland, the cost of the project is estimated at around 500 million euros of which the EU is ready to cover nearly a half. The Commission should make the decision by autumn.





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