Finland to Host joint Finnish-Estonian LNG Import Vessel

A Finnish-Estonian liquefied natural gas (LNG) import vessel will be based in Finland's Inkoo port from the start later this year, the two countries said in a joint statement on Monday.

The Finnish and Estonian governments in April decided they would replace lost Russian gas imports by together renting an LNG terminal and later opted to charter the vessel from U.S based Excelerate Energy for 10 years.

Two sites have been developed for the vessel, one in Paldiski in Estonia and the other at Inkoo in Finland, with either port being a possible location initially.

"It can be concluded that placing the terminal rented by Gasgrid in Finland makes sense in this security situation," said Riina Sikkut, Estonia's minister of economy and infrastructure.

"We have agreed that the LNG terminal will ensure the gas supplies of both Estonia and Finland on equal terms."

(Reuters - Reporting by Terje Solsvik, editing by Essi Lehto)