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Vopak set to build 4,000 cubic meter LNG terminal at Muuga
Vopak E.O.S. is initially set to build a 4,000 cubic meter LNG terminal at Muuga near Tallinn in the near future, but the company has yet to ask for funding from the European Union, informs LETA/BNS.
"We plant to start construction in the near future and the terminal's first phase with a capacity of 4,000 cubic meters is expected to be completed in a year," Olga van Kampen, spokesperson for Vopak, told BNS. "Asking for funding from the European Union is still on the table and we are deliberating it," she said.
Vopak first launched the plan of building a regional LNG terminal at Muuga in 2012. "By now we have realized that it is reasonable to develop the terminal step by step, starting with a smaller terminal and then constructing a large terminal, which meets market demands," van Kampen said.
"We cannot disclose financial details as our parent companies are listed on the stock exchange," van Kampen said.
Vopak E.O.S. manager Arnout Lugtmeijer said in February that the plan is to start building a 4,000–20,000 cubic meter terminal, the cost of which ranges from 25 to 50 million euros, the eventual cost depending on the terminal's size. So it may be estimated that the construction of a 4,000 cubic meter terminal would cost approximately 25 million euros.
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