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Estonian businessman Hääl ready to invest 120 mln euros in LNG terminal
Juhan Tere, BC, Tallinn, 12.05.2011.
Print version
Print versionHeiti Hääl, major owner Estonian petrol station chain Alexela, said on Wednesday that he is ready to invest 120 million euros in a LNG terminal in the North West Estonian town of Paldiski, LETA/Postimees Online reports.
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| Heiti Hääl. |
Hääl owns a major stake in a company called Balti Gaas, which develops that terminal. Hääl said that he is missing a construction permit which cannot be granted before environmental permits are in order.
The terminal would have a reservoir of 60,000 cubic metres which would cover the three weeks of gas consumption needs in the state. Hääl hopes that when the first stage is completed, it will be possible to get support from the EU to develop the terminal to its full capacity.
Terminal with reservoirs of around 320,000 cubic metres would be able to supply all Baltic states with natural gas and if an undersea pipeline is built, also Finland.
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