LNG Season in the Baltic?
Lately it seems like LNG terminal projects have been popping up like mushrooms after a rainstorm. To begin with, there is the long-promised regional terminal, to be partly funded by the European Union, which now might turn into two separate terminals – one in Finland and one in Estonia. The second one is the smaller Klaipėda terminal in Lithuania, with a promised completion date of December 2014. And the third is the fully privately-funded Sillamäe project in Estonia, which recently has reentered the picture after being considered virtually dead by experts. If those weren’t enough, Latvia’s government is now claiming that it “would only be logical” if the country gets its own terminal as well. Given that the total annual gas demand of the three Baltic countries and Finland combined is only 10 billion cubic meters (bcm), the question then arises: is there really a market for more than one terminal in the region?
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