Marti Hääl, major stakeholder and member of the board of Alexela Grupp that has promised to construct an LNG terminal in the Port of Paldiski, said that the company has no government guarantees necessary for a business plan at this time.
"The honest answer is that the business plan does not exist today. Nor could it, because we lack input," Hääl said at a public sitting of the Riigikogu State Budget Control Select Committee on Monday.
He explained that the most pressing question for Alexela is what will happen should the mooring infrastructure to be built fall out of use. The eventuality would require a state financial guarantee, mechanism for compensating for the price difference or other pledges, Hääl suggested.
"We seem to lack clarity on this matter and are trying to find it with [transmission system operator] Elering – how to manage financial risks, develop the mooring infrastructure against the market," the Alexela representative said.
He added that the LNG terminal would be feasible if Russian gas was denied access to the Baltic and Finnish market, as the terminal in Klaipeda only covers half of the four countries' total consumption.
Hääl emphasized that Alexela can have the necessary infrastructure (for servicing a floating LNG terminal – ed.) up and running by November 1 as it has ordered the necessary materials and equipment and can do the work in time.
Editor: Marcus Turovski