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Germany's LNG import project plans

04/12/2022 | 05:27am EDT

FRANKFURT, April 12 (Reuters) - The following liquefied natural gas (LNG) terminal projects have picked up speed since Germany declared them vital to ending decades of reliance on Russian energy.

The projects had not moved forward because the Nord Stream 2 gas pipeline from Siberia through the Baltic Sea - now abandoned - would have reduced the need for diversification into costlier and globally sought-after LNG.

Prospective investors in the terminals have said they would develop them into sites that could also accommodate supply chains for zero-carbon fossil gas alternatives such as hydrogen or ammonia in the future.

LNG terminals cost several hundred million euros each.

BRUNSBUETTEL

An LNG facility with capacity of 8 billion cubic meters (bcm) is planned to start in 2026 or earlier on the mouth of the Kiel Canal that connects the Baltic with the North Sea.

German state lender KfW has taken a 50% stake in exchange for its financial support, with utility RWE taking 10% and Dutch operator Gasunie holding 40%.

British oil and gas group Shell has committed to booking large parts of the terminal.

STADE

Project company Hanseatic Energy Hub (HEH), backed by Belgian gas transport networks group Fluxys, Swiss investment company Partners Group and German logistics group Buss, aims to develop a 12 bcm terminal at the inland Elbe river port of Stade in Lower Saxony by 2026. A final investment decision is expected next year.

Chemicals firm Dow, which has the land for its construction, said on April 11 it will take a minority stake.

Utility EnBW announced it intends to buy three bcm of gas a year from the facility.

WILHELMSHAVEN

Tree Energy Solutions (TES) said it will accelerate plans for a gas import terminal to be built at the Wilhelmshaven deep-sea port in partnership with E.ON, bringing it forward to 2025 for LNG use, with capacity to handle zero-carbon gases from 2027.

Uniper recently said it was looking at the location again, having scrapped LNG plans there in 2020 amid a lack of buyer interest.

(Reporting by Vera Eckert; editing by Jason Neely)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
E.ON SE -1.65% 8.602 Delayed Quote.-28.26%
ENBW ENERGIE BADEN-WÜRTTEMBERG AG 0.68% 88.8 Delayed Quote.16.05%
FLUXYS BELGIUM SA 0.67% 30 Real-time Quote.-5.96%
FORTUM OYJ -3.71% 15.955 Delayed Quote.-40.89%
LONDON BRENT OIL 2.22% 112.44 Delayed Quote.41.22%
PARTNERS GROUP HOLDING AG 3.76% 895 Delayed Quote.-42.97%
RWE AG -3.11% 37.42 Delayed Quote.8.12%
SHELL PLC 2.88% 2087.5 Delayed Quote.25.26%
UNIPER SE -2.84% 17.8 Delayed Quote.-56.17%
WTI 3.07% 107.53 Delayed Quote.37.83%
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