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Saturday, 04.04.2026, 15:47
Estonian and Finnish LNG terminals to operate under one company
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While a year ago, the main question was whether the regional terminal would be built in Estonia or Finland, Estonian economy minister Juhan Parts said that now a positive compromise was reached. There will be two terminals, one in Inkoo and one in Paldiski and they will be developed by Gasum in Finland and Alexela concern in Estonia. The terminals will be linked with the BalticConnector gas pipeline.
Parts explained that the company will operate as one regional terminal but physical locations will be on both sides of the Gulf of Finland.
"The developers of the project have to work on that rather intensely that they have been given such a mandate, they have agreed to it. In two months' time the company's concept and business plan should be submitted to the European Commission and our regulators. This means very intense talks between the companies," said Parts.
The companies have to submit a revised business plan by May latest.
The terminals will be built mainly for the companies' own means and the EU support will amount to less than 50% of the total cost.
According to the agreement that was concluded, the Estonian state can acquire a majority stake in the Estonian LNG project.
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