Tallinna Sadam starts operating LNG quay in Pakrineeme harbour
AS Tallinna Sadam (Port of Tallinn, hereinafter: Tallinna Sadam) signed an agreement with AS Eesti Varude Keskus (Estonian Stockpiling Agency, hereinafter: EVK) for the provision of port services in Pakrineeme harbour. Tallinna Sadam ensures readiness to receive ships at the LNG quay and is responsible for the administration and maintenance of the Pakrineeme harbour infrastructure, marine traffic management and, if necessary, pollution control manpower. The infrastructure of Pakrinemee harbour and the responsibility for compliance with its requirements belong to EVK, Tallinna Sadam will not acquire additional assets and is only responsible for operating the port.
"With this project, Tallinna Sadam can contribute to ensuring Estonia's energy security, which is crucial today. We hope that the LNG quay will be put into active use and in the future we will be able to serve ships there," said Valdo Kalm, chairman of the management board of Tallinna Sadam. "We will operate Pakrineeme harbour in a modern way by remote control from Paldiski and Muuga harbours, there will not be a single person on site on a daily basis, and we are not planning a single building or facility there either. The project will not bring additional costs for Tallinna Sadam, we will ensure the provision of port services with existing resources," added Kalm.
The term of the contract is four years with an additional four-year extension option. The economic impact on the sales revenue and profit of Tallinna Sadam is nearly 0.3 million euros per year (fixed fee), for which infrastructure management and maintenance and permanent readiness to receive vessels are ensured. In the event of a vessel call, an additional fee for the management of marine traffic and the provision of services related to mooring is added to the fixed fee. At the moment, it is not possible to estimate the economic impact of the mooring, because it depends on when and how often ships will call the Pakrineeme harbour in the future.
Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region. In addition to passenger and freight services, Tallinna Sadam group also operates in shipping business via its subsidiaries – OÜ TS Laevad provides ferry services between the Estonian mainland and the largest islands, and OÜ TS Shipping charters its multifunctional vessel Botnica for icebreaking and offshore services in Estonia and projects abroad. Tallinna Sadam group is also a shareholder of an associate AS Green Marine, which provides waste management services.
Additional information:
Marju Zirel
Head of Investor Relations
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