• 4 minutes Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
  • 9 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 17 minutes Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 5 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 2 hours Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 20 hours Corruption On The Top: Netanyahu's Wife Charged With Misuse of Public Funds for Meals
  • 9 hours Saudi Arabia turns to solar
  • 6 hours Why is permian oil "locked in" when refineries abound?
  • 2 hours Could Venezuela become a net oil importer?
  • 13 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 9 hours Teapots Cut U.S. Oil Shipments
  • 8 hours Oil prices going down
  • 9 hours Hot line, Macron: Phone Calls With Trump Are Like Sausages Best Not To Know What Is Inside
  • 1 day "The Gasoline Car Is a Car With a Future"
  • 1 day Sell out now or hold on?
  • 24 hours What If Canada Had Wind and Not Oilsands?
  • 22 hours U.S. Withdraws From U.N. Human Rights Council
  • 10 hours Putin Says 'Fierce' U.S. Politics Hindering Summit With Trump
  • 19 hours EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
Permian Bottlenecks Begin To Bite

Permian Bottlenecks Begin To Bite

The pipeline bottlenecks in the…

Permian Discount Could Rise To $20 Per Barrel

Permian Discount Could Rise To $20 Per Barrel

Midstream constraints plaguing Permian drillers…

Finland is Chosen as the Best Location for a Baltic LNG Terminal

Consultants Booz & Company carried out a study at the request of the European Commission into the best location for a LNG terminal in the Baltic. The objective of the terminal is to reduce the dependence of the eastern Baltic countries on natural gas imports from Gazprom. The fact that they are almost completely reliant upon Russian imports gives the soviet state the power to charge high prices.

Finland has come out on top as the ideal location for the new terminal. The only problem is that Finland is currently tied in to a long term gas contract with Gazprom until 2025.

If the LNG terminal cannot be built in Finland then the next choice is Estonia, in the port of Paldiski, due to the fact that connecting the terminal to the local gas grid would be cheap and easy.

Related Article: How Big a Role Will Shale Gas Play in America’s Energy Future?

The report states that “a Finnish terminal would bring the same benefits as a LNG terminal located in Estonia, both in terms of supply diversification and security of supply. Furthermore a LNG terminal in Finland has the advantage to be closer to the centre of biggest gas consumer in the region, namely Finland.”

The east Baltic countries consume about ten billion cubic metres a year of natural gas, with Finland accounting for five billion. The new terminal will have an initial capacity of four billion cubic metres, and is merely intended to offer an alternative to the Russian product in order to encourage lower prices.

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News