WSJ: Finland, Estonia Agree to Build Two Liquefied Natural Gas Terminals
Officials in Finland and Estonia have agreed to a EUR500 million ($690.6 million) plan to build two liquefied-natural-gas terminals on the shores of the Gulf of Finland, after a long debate in the two European Union nations about where to locate a single facility.
The two nations, seeking to lower energy costs, have also agreed to build a natural gas pipeline called the Balticconnector between Finland and Estonia. One terminal will be located in Estonia, the other in Finland.
The decision was announced Friday and comes amid concern that Baltic nations and Finland don't have adequate access to the European Union's LNG market.
"We have all been witnesses to steep rise of natural gas prices in the recent years," Juhan Parts, Estonia's minister of economic affairs, said in a news release. "This situation must change."