Port of Tallinn eyes LNG terminal in Paldiski
Estonia’s Port of Tallinn (Tallinna Sadam) and AS Alexela Invest have signed a memorandum of understanding to jointly working on the possibility of the development of an LNG terminal to serve LNG tankers and bunkering, and establishing port facilities for loading and unloading LNG on the Pakri peninsula by the Lahepere bay in Paldiski.
Port of Tallinn to invest 1.8 mln euros in Paldiski South Harbour
This week (27/06/2014) the Supervisory Board of AS Tallinna Sadam approved the 1.8 million euro investment in bottom dredging of the water area of Paldiski South Harbour, which will allow larger vessels than before – with the gross tonnage up to 75 000 GT – to be docked in the harbour, reported BC port’s press service. The investment aimed at increasing competitive ability of Paldiski South Harbour will support bottom dredging of the turning ring and the channel of the water area of the port from the current 13.5 metres to 14.5 metres. At the moment Paldiski South Harbour is mainly used for handling of ro-ro goods, scrap metal, timber, peat and petroleum products. Another important area of activity is transit and pre-sale service of new cars intended for neighbouring markets. The investment in increase of capacity of Paldiski South Harbour will allow to satisfy future needs of existing customers and to increase attractiveness of the harbour for new customers.
Estonia, Finland sign accord on building joint LNG terminals
Estonia and Finland signed an agreement on building two new liquefied natural gas (LNG) terminals on either side of the Gulf of Finland and a pipeline connecting the two countries. The countries have competed for more than a year over a project to build a new liquefied natural gas (LNG) terminal and the Estonian Economy Minister Juhan Parts made the compromise proposal in January this year. "The intent of the signed Memorandum of Understanding is for cooperation between the Estonian and Finnish LNG terminal developers to build liquefied natural gas terminals on both sides of the Gulf of Finland," the Estonian economy ministry said in a statement. The ministry added that by the end of May the project developers, Finland's Gasum and Estonia's Paldiski terminal developer, must present the joint project's technical and economic details to their respective countries' regulators and the European Commission. Analysts say the region's gas demand only warrants one LNG import terminal, in terms of construction costs and gas import prices. A single LNG terminal is estimated to cost around 500 million euros ($690.58 million) and provides an alternative to gas supplies from Russia. A pipeline that would allow Finland and Estonia to share imports would cost some 100 million euros. The European Union could fund up to 40 percent of a regional terminal provided it serves the interests of more than one country, and there are several Baltic states vying for funds. Finland and the three Baltic states of Estonia, Latvia and Lithuania consume about 10 billion cubic metres of gas per year, all currently supplied by Russia's Gazprom. Source: ReutersUpload News