Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

Germany charters fifth floating LNG terminal

Published 01/09/2022, 14:14
Updated 01/09/2022, 14:17
© Reuters. FILE PHOTO: Workers stand at a construction site for a planned floating Liquefied Natural Gas (LNG) terminal in the harbour in Wilhelmshaven, Germany, August 16, 2022. REUTERS/Fabian Bimmer
NG
-

BERLIN (Reuters) - The German government plans to charter another floating liquefied natural gas (LNG) terminal for winter 2023/24, bringing the total number to five, as part of its strategy to diversify away from Russian energy.

The fifth state-owned floating storage and regasification unit (FSRU) will come to Wilhelmshaven, where another FSRU is already planned, and has a capacity of 5 billion cubic metres per year, said the Economy Ministry on Thursday.

"All the steps we take to free ourselves as quickly as possible from the clutches of Russian imports are more necessary than ever," said Economy Minister Robert Habeck in announcing that the ministry's selection of companies to manage the FSRU.

E.ON Green Gas, Engie and Germany's Tree Energy Solutions (TES) will manage the new terminal, which they said should start at before the heating period 2023.

© Reuters. FILE PHOTO: Workers stand at a construction site for a planned floating Liquefied Natural Gas (LNG) terminal in the harbour in Wilhelmshaven, Germany, August 16, 2022. REUTERS/Fabian Bimmer

Germany in May leased four floating storage and regasification units (FSRUs) for the import of at least 5 billion cubic metres a year each of seaborne gas, of which two are due to become available this year.

Berlin had previously said that a fifth FSRU could be taken into service by a private consortium.

 

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.