Tallinna Sadam, Alexela Invest Sign MoU

Maritime Activity Reports, Inc.

November 2, 2018

Tallinna Sadam  Image: Port of Tallinn

Tallinna Sadam Image: Port of Tallinn

AS Tallinna Sadam and AS Alexela Invest signed a Memorandum of Understanding (MOU) for finding the best solutions for the development and implementation of LNG terminal and servicing LNG tankers and bunkers; and establishing port facilities for loading and unloading LNG on the Pakri peninsula by the Lahepere bay in Paldiski.

Tallinna Sadam and Alexela will continue to negotiate the conditions for joint activities with the aim of reaching the contract by the end of 2020.

According to the MOU, the responsibility of Tallinna Sadam in participating in the Paldiski LNG terminal project would be the development and maintenance of the necessary port facilities and Alexela would be responsible for the establishment and operation of the terminal.

Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region, which in 2017 serviced 10.6 million passengers and 19.2 million tons of cargo.

In addition to passenger and freight services, Tallinna Sadam group also operates in shipping business via its subsidiaries – OÜ TS Laevad provides ferry services between the Estonian mainland and the largest islands, and OÜ TS Shipping charters its multifunctional vessel m/v Botnica for icebreaking and construction services in Estonia and offshore projects abroad.

Tallinna Sadam group is also a shareholder of an associate AS Green Marine, which provides waste management services. Tallinna Sadam group's sales in 2017 totaled EUR 121.3 million, adjusted EBITDA EUR 66.5 million and net profit EUR 26.4 million.

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