Eesti Gaas to import seven more LNG cargoes by October

Estonia-based gas supplier Eesti Gaas plans to import 14 LNG cargoes in total in January-September, it said late last week.

Eesti Gaas already received three cargoes in the first quarter at Lithuania's 2.9mn t/yr Klaipeda terminal, and has taken all four that have arrived so far at Finland's 3.9mn t/yr Inkoo terminal, of which two arrived earlier this month. This leaves seven more still to be delivered.

The firm earlier this year booked seven slots at Inkoo for April-September, meaning it would need to purchase four more to reach its target of 14 by the end of September.

The Inkoo terminal operator has so far allocated three spot capacity slots for the rest of the summer, although it is unclear who booked them. And Eesti Gaas will bring an additional cargo to Klaipeda in July, the firm told Argus.

Eesti Gaas has increased its market share in Finland to nearly 40pc as a result of the firm's consistent LNG deliveries, which allow it to "make the price more favourable for the customer", chief executive Margus Kaasik said. "Finnish industry relies on gas, and the past six months, when gas prices have gone down, also show an increase in gas use in Finland — old customers are coming back and new ones are added for us," Kaasik said.

By Brendan A'Hearn