In a deal signed Friday by both Finnish and Estonian authorities, the countries agree to take further steps towards the building of two LNG terminals on either side of the Gulf of Finland. A pipeline is to connect the two plants, Yle reports.
The agreement prepares the way for a feasibility study on the project, Gasum informs in a press release.
If built, the plants will make both countries fully independent of gas imports from Russia. Currently, gas accounts for about 10 percent the Finnish Total Primary Energy Supply (TPES) and Russia is the country’s only import source.
All gas imports are managed by Gasum, the company which now is leading the way in the LNG project. The Finnish-Estonian agreement comes only one week after Gasum acquired a 51 percent share of the LNG distribution business of the Norwegian company Skangass.