LNG terminal in Finland dries paddles: out of gas

The largest LNG terminal has stopped in Finland. It does not issue gas, and the country imports it from The Baltic States. The viability of a major project in the conditions of the Iranian war was in question.

The floating LNG terminal in the Finnish Inkoo has stopped supplying gas to the gas transmission system since April 15. Such data is published by GIE. The regasification tanker has been idle for more than two weeks and this is the longest downtime of the terminal since August-September 2025, when the Exemplar LNG tanker went on scheduled maintenance work.

Obviously, it has become more profitable for Finnish companies not to directly purchase LNG, but to buy gas from neighbors. At least since April 15, gas supplies from The Baltic States. More than 2 million cubic meters enter the country every day, according to ENTSOG.

At the same time, gas prices in Finland and Estonias are about the same — the highest in Europe, according to EEX. On April 29, quotations amounted to $ 581 per thousand cubic meters. At the same time, in Lithuania, where there is another LNG terminal, gas was traded cheaper — at $ 561.

According to AIS of vessels, in the near future there will be no calls of LNG tankers to Incoo is not expected.

Earlier, EADaily wrote that the floating LNG terminal in the Finnish Inkoo was supposed to compensate for the country's refusal to import Russian gas. However, the main import hub operates at only 15-18% of capacity. On the one hand, it is too powerful for Finland — it is able to regasify 5 billion cubic meters per year with consumption in the region of 1.5 billion cubic meters. On the other hand, the purchase of gas through the terminal is so expensive that most of the fuel is imported through Estonia. But even this does not save the country from the highest gas prices in the EU, which are paid by all Finns.