HELSINKI, May 20 (Reuters) - Finland has agreed a 10-year charter for a floating storage and regasification (FSRU) vessel with U.S. based Excelerate Energy (EE.N) to help replace Russian gas supply, finance minister Annika Saarikko said on Friday.

"The LNG terminal will make it possible for us to break free from Russian gas," Saarikko said in a statement.

The announcement coincided with Finland's state-owned energy group Gasum saying Russia's Gazprom Export had informed it that natural gas supplies from Russia to Finland would be cut on Saturday 21 May at 04.00 GMT. read more

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Last Friday, Finland's emergency preparedness committee said it was ready to cope in the event that Russia cuts off its supply of natural gas. read more

Finland and Estonia announced in April their intention to jointly charter a floating terminal for importing liquefied natural gas (LNG), a globally traded commodity, to help replace current deliveries of Russian gas. read more

Saarikko said the aspiration was to have the vessel, which will be located on the Southern coast of Finland, operational in the fourth quarter of this year.

"The total cost of the LNG terminal vessel project with the 10-year lease is estimated to be at 460 million euros ($487 million), in addition to which there are separate costs associated with the volume of use," Gasgrid Finland said, adding it was in talks with Estonian Elering on their participation.

The floating terminal will be managed by gas system operators Gasgrid Finland and Elering, with the Finnish partner to bear 80% of the rental costs, they said previously.

The vessel has a volume corresponding to about 68,000 tonnes of LNG when full, equally about 1,050 GWh of energy and it will be loaded with LNG around two to three times a month, Gasgrid Finland said.

"With more than 5 billion cubic metres a year in regasification capacity, Exemplar (the vessel) can easily cover Finland and Estonia's combined gas consumption and have much more left over," Excelerate's Chief Executive Steven Kobos told reporters.

The company saw its share climb 3.4% $25 in the U.S. premarket on the news.

"The LNG terminal ship will play a major role in securing gas supplies for Finland's industry," Finland's minister of economic affairs Mika Lintila said in a statement.

($1 = 0.9442 euros)

https://www.reuters.com/business/finland-agrees-10-year-charter-fsru-us-firm-excelerate-2022-05-20/?utm_campaign=trueAnthem%3A+Trending+Content&utm_medium=trueAnthem&utm_source=facebook

Good one

United States steadily cashing out...

War politics.
Na them sabi.make we face our own too

Finland is supposed to have the best education system in the world.
...

flamingREED:
Finland is supposed to have the best education system in the world.
...

Has this changed?

Putin is under estimate USA military, political and economic power. They have alternative to everything coming from Russia to other European countries.

Hmm
What happens when natural disaster occurs and the ship cannot get supplies?
Did they factor that one in?
E go choke ooo

drmuchin:
Hmm
What happens when natural disaster occurs and the ship cannot get supplies?
Did they factor that one in?
E go choke ooo

Which Natural disaster and how many have occurred?

Them just dey pepper Putin

Mumu Putin. I feel sorry for the person that will take over from him. Stupid man is destroying the revenues of Russia for nothing.

When I said USA was going to take over all the supplies, some were arguing.

You think Europe has bad leaders like Nigeria that only think about stealing and not how to solve problems of the country.

The whole of Europe should migrate away from using Russian gas.

What would be the bills for the consumers compared to Russian gaz ?
That is the main question.

panafrican:
What would be the bills for the consumers compared to Russian gaz ?
That is the main question.

Their lives will still be a thousand times better than that of Nigerians. Let's not mourn for the bereaved when we ourselves have decaying carcasses uncared for.

BritishNaija:


Which Natural disaster and how many have occurred?

Have u calculated the distance from US to Finland?
Have u heard of hurricanes, storms on the high seas?
As a man you can't trust the natural elements

drmuchin:


Have u calculated the distance from US to Finland?
Have u heard of hurricanes, storms on the high seas?
As a man you can't trust the natural elements

Have you heard about Shipping routes? Distance is never a barrier for alternative of What you want, as long as you get what you want. Beside hurricane have no place in this.

panafrican:
What would be the bills for the consumers compared to Russian gaz ?
That is the main question.

thats nt the main question. Soo many countries buys data at different cost and no one is complaining. We are all buying it regardless

Rastaramsey:
Them just dey pepper Putin

I swear..

panafrican:
What would be the bills for the consumers compared to Russian gaz ?
That is the main question.

When Russia eventually invades them without NATO protection, the bills for consumers will be the least of their worries... If a country is leaving a decade of neutrality to join NATO, it shows they have legitimate fears

Frankiss44:
United States steadily cashing out...

True !

panafrican:
What would be the bills for the consumers compared to Russian gaz ?
That is the main question.

They avoided that part nau!
And the gas biz with the us has not commenced ooo!
It is a future presnt to come

panafrican:
What would be the bills for the consumers compared to Russian gaz ?
That is the main question.

Finland has been named as the #1 country in the world in 2021 for Quality of Life, according to the CEOWORLD magazine 2021 report, while Denmark and Norway placed second and third, respectively. The 2021 rankings placed Belgium in fourth ahead of Sweden into fifth; while Switzerland ranked sixth and the Netherlands seventh. Syria is in the last place behind Sudan, Montserrat, North Korea, and Comoros


https://ceoworld.biz/2021/06/20/the-worlds-best-countries-for-quality-of-life-2021/

To start with, read and learn about Finland, Finland is not a poor country with no means, they are rich and they have the best quality of life in the world, better than poor Russia many times over.

Don't worry about the Fins, they did their homework for decades knowing the kind of maniac in Russia next door, the Fins like the rest of Europe appeased Putin for decades by buying his oil and gas while he threatens their peace and stability, they look the other way just to keep the peace while Putin invades other countries and took their land.

Don't think for one second that cheap Russian gas is indispensable when it comes to other people's peace, their future, and economic stability.

The people of Finland are in total support of their government and joining NATO, obviously, the price of gas is irrelevant when it comes to their peace of mind, safety and security so don't worry about the Fins, they are not poor and hungry people.

You can not keep invading other countries, starting needless wars, and not expect your neighbors to start asking themselves who is next in line to be invaded or not to make arrangements to protect themselves and their people.

Putin like other sociopaths and overbearing characters like him gets carried away, they overestimate their relevance and importance, you sell oil and gas, you get your money mainly from oil and gas, you acquire military power and arsenal from oil and gas, you are nothing without oil and gas and all of a sudden you think you are so powerful and the world can not do without you and your oil and gas.

The only problem with Putin's foolish miscalculation is not knowing that he's not the only seller of oil and gas, oil and gas are international commodities with many suppliers like Putin all over the world, so what do you do when the world calls your bluff and stop buying your oil and gas.

Poland and Bulgaria found other suppliers, Finland was ready for Putin and his drama so they made arrangements to get energy from other sources, even sef, they consume only 5% gas, so little that they easily replaced Russian gas with Norwegian gas with ease.

It is OK to do shakara and bully poor countries with little or no money with your gas, but not the richest countries in the world with more than enough money to set up their own oil and gas infrastructures just to get rid of you and your drama.

Finland refused to bow to Putin, they did not pay him 1 ruble for his gas and they are joining NATO so who is the loser? Putin is the loser.

Putin is really very follish and dumb.

There's something happening behind the scene.The U.S strategically orchestrated this war with a set of achievents it put its eyes on.Imagine Finland puting an end to importing Russian gas to get alternative from the U.S. So you just sit down and ask yourself "who is really benefiting in this war? the U.S sure do.They want the war in a low intensity but keep going.Very soon, it will be clear to everyone that the U.S is the beneficiary in this war.

VictorUSA:
There's something happening behind the scene.The U.S strategically orchestrated this war with a set of achievents it put its eyes on.Imagine Finland puting an end to importing Russian gas to get alternative from the U.S. So you just sit down and ask yourself "who is really benefiting in this war? the U.S sure do.They want the war in a low intensity but keep going.Very soon, it will be clear to everyone that the U.S is the beneficiary in this war.

Such a break was easier for Finland than it will be for other European Union nations. Natural gas accounts for just some 5% of total energy consumption in Finland, a country of 5.5 million. Almost all of that gas comes from Russia, and is used mainly by industrial and other companies with only an estimated 4,000 households relying on gas heating.

Finland's state-owned gas company says it will now use other gas sources

Gasum said it would now supply natural gas to its customers from other sources through the undersea Balticconnector gas pipeline running between Finland and Estonia and connecting the Finnish and Baltic gas grids.

https://www.npr.org/2022/05/21/1100547908/russia-ends-natural-gas-exports-to-finland

Have you seen any American LNG heading to Finland or any contract signed between Finland and the USA?

Gas is almost irrelevant as Finland is concerned because only 5% of their energy consumption is gas which they replaced easily via the Balticconnector gas pipeline.

muykem:
Putin is under estimate USA military, political and economic power. They have alternative to everything coming from Russia to other European countries.

It will only take time before alternatives can be materialized. US is always patient when it comes to international political game.
This war has taught EU bitter lesson, never rely on any products from Russia.
In fact no country should rely on another country for essential goods and services.

drmuchin:
Hmm
What happens when natural disaster occurs and the ship cannot get supplies?
Did they factor that one in?
E go choke ooo

like if the ocean dries up ?

.

It must be very exhausting for these two American wanna be to be on every trend typing so seriously with veins shooting out of their foreheads. Upon all these, your kind are being shot at and called derogatory names in your dream lands.