AS Tallinna Sadam has announced that it has signed a memorandum of understanding (MoU) with AS Alexela Invest.
Under the terms of the MoU, both parties will look to find the best solutions for the development and implementation of an LNG terminal at the Pakri peninsula, which is located by the Lahepere bay in Paldiski, Estonia.
Both parties will continue to negotiate the conditions for joint activities with the aim of signing a contract by the end of 2020. According to the MoU, the responsibility of Tallinna Sadam would be the development and maintenance of the necessary port facilities. Alexela, meanwhile, would be responsible for the establishment and operation of the terminal.