Half of Finland’s Gasgrid operated LNG terminal’s available capacity at Inkoo for calendar year 2025 was reserved during the recent annual allocation process.
Inkoo’s FSRU terminal has established itself as a key part of the Finnish energy market during its operation. As the clean transition progresses, the terminal will become even more important, Gasgrid said.
During the annual allocation process, 22 slots were offered for annual capacity reservations, of which 11 were reserved.
As per the terminal operator’s rules, this process will proceed to the scheduling of the slots reserved for next year, which will be market-driven in co-operation with the terminal’s customers.
“Once the schedules are confirmed, we will publish the exact programme and at the same time, open the remaining spot slots for booking. We aim to make the announcement as soon as possible, but following terminal rules, no later than 25th November, 2024,” explained Rasmus Hellman, the LNG terminal’s Commercial Manager.
“At this stage, reservations have been made according to the number of slots and only at the scheduling stage will we see how the reserved slots will be scheduled for next year. The terminal hopes that the slots will be evenly distributed throughout the year,” he added.
Inkoo offers capacity in slots corresponding to standardised LNG volumes and periods, ie scheduled cargoes based on terminal vessel capacity and gas demand.
When terminal customers book capacity, they are in effect buying the terminal’s regasification service for LNG, which they have purchased on the global market and delivered to the terminal in LNGCs, Gasgrid explained.
In simple terms, capacity, ie slots, are allocated before the start of the calendar year through an annual capacity allocation procedure, or during the gas year through spot allocation.
The LNG will be vaporised at the terminal, after which it can be fed into the Finnish gas transmission network for the wholesale markets.
The terminal started commercial operations in January, 2023 and is operated by Gasgrid’s subsidiary, Floating LNG Terminal Finland Oy.
