HomeNewsFinland's Gasgrid to offer spot for new November LNG cargo

Finland's Gasgrid to offer spot for new November LNG cargo

10/19/2023

(Reuters) - Finland's Gasgrid, which operates the Inkoo floating LNG import terminal at Inkoo, will offer an additional late spot in November in a cargo booking window planned for Oct. 20.

Gasgrid had suspended terminal bookings following the Balticconnector incident to allow market participants time to adjust to the new import situation.

The Balticconnector pipeline linking Finland and Estonia ruptured earlier this month in what authorities said may have been a deliberate act of sabotage, cutting off the flow of gas between the two countries until April at least.

The new slot for 400-500 gigawatt hours of capacity would start on Nov. 2 offering a delivery window until Nov. 8, while regasification could take place until Nov. 21, Gasgrid specified.

The allocation, to be held from 0700-1300 GMT (1000-1600 local Finnish time) would be made on a first-come-first-serve basis, it added.

The addition means an existing 40-day terminal slot running from Oct. 16 to Nov. 24, shown in Gasgrid's last update to the terminal schedule, has been split up.

In a separate market message, Gasgrid said it aimed to provide an updated terminal schedule on Friday.

The Inkoo LNG terminal, consisting of the Exemplar floating storage and regasification unit (FSRU), started operations in March, capable of storing 1,000 GWh of energy and injecting around 140 GWh per day into the grid.

The FSRU was deployed to replace gas supplies from Russia which were cut in the wake of Moscow's invasion of Ukraine

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