Estonia and Finland has signed a letter of intent concerning the natural gas pipeline “Balticconnector”, connecting the two states, and building two liquefied natural gas terminals (LNG), EER reports.
According to the agreement, the developers of Estonian and Finnish LNG terminals will cooperate in the construction of liquefied natural gas terminals on both coasts of the Gulf of Finland. According to the original plans, there was supposed to be one large regional terminal, but Estonia and Finland could not agree upon its location.
Estonian economy and communications minister Juhan Parts said that the agreement is the result of long negotiations and necessary for both partner states.
According to the letter of intent, project developers in Estonia and Finland have to submit more specified technical and economic parameters of the joint project to the countries’ regulators and the European Commission by the end of May.
As reported, “Booz&Company”, a consulting firm hired by the European Commission for the assessment of the best location for construction of the Baltic region’s liquefied natural gas terminal after the Baltics were not able to agree amongst themselves, said in its final report that building the terminal in Estonia would achieve a number of advantages, adding that building the terminal in Finland would have similar advantages.
Source: Latviannews.lv -leta.lv -eer.