Finland and Estonia have agreed on a liquefied natural gas (LNG) roadmap to improve the countries’ gas infrastructure.
The roadmap includes the construction of the proposed Balticconnector gas pipeline between Finland and Estonia and the associated LNG terminal.
The large-scale LNG terminal, which will be built in Finland, will deliver gas to users in the region at competitive prices.
The Balticconnector pipeline will connect gas markets in both the countries.
Plans also include the construction of a small-scale LNG terminal in Estonia for distribution of gas and security of supply.
The gas infrastructure development in the Baltic region will allow Finland and the Baltic states to access the underground gas storage in Latvia.
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By GlobalDataFinland Prime Minister Alexander Stubb said: "I am very satisfied that we have reached agreement. With the implementation of the planned measures, Finland will become integrated into the European gas network and be able to improve the country’s gas-based energy security."
Finland and Estonia will implement the LNG projects after the technical and economical feasible studies.
Both the countries plan to run the Balticconnector pipeline in 2019 and the terminal may also be constructed in Estonia if the plan is not implemented by the end of 2016.
Finland and Estonia are making efforts to secure funding from the European Union for the projects.
