Offshore company reveals plans to invest in LNG terminal
Offshore investment firm Balmoral Capital Holdings has announced a plan to invest 50–150 million euros in the LNG (liquefied natural gas) receiving terminal in Estonia.
The information about plans to invest in Estonia was revealed by Balmoral Capital Holding board chairman Rodney Kincaid when he was speaking at the 4th annual Baltic Energy Summit recently. However, it was not disclosed in which LNG terminal the investment would be made.
Three plans are known by the public to build LNG receiving terminals in Estonia. Sillgas OÜ plans to build a terminal in the north-eastern part of Estonia, in Sillamäe. The terminal will cost about 500 million euros and would be ready by summer 2013. The state-owned transmission system operator Elering, the Port of Tallinn and Dutch logistics firm Royal Vopakand are planning to build a terminal in Muuga Port, near Tallinn. Balti Gaas OÜ, part of local Alexela Energy, is working to build a terminal in Paldiski, also near Tallinn.