RWE and German LNG Terminal Sign Capacity Contract for Germany’s First LNG Terminal
Andree Stracke, Chief Commercial Officer Gas Supply & Origination of RWE Supply & Trading GmbH, comments:
“LNG will play an important role in the North-West European gas market and therefore we are very pleased to take this step forward towards an LNG terminal in Germany. We believe that together with German LNG Terminal we can fully develop a significant business around the terminal delivering LNG and gas to our customers in Germany and throughout Europe. LNG remains a key growth area for RWE: this agreement will enable us to continue growing our portfolio and provide us with additional flexibility to take advantage of new opportunities as they present themselves in the global LNG market.”
Ulco Vermeulen (Member of Executive Board, N. V. Nederlandse Gasunie), Daan Vos (Managing Director, Oiltanking GmbH) and Kees van Seventer (President, Vopak LNG Holding B.V.) declared in a joint statement:
“We are very pleased to have reached this agreement with RWE. This is an important step in the commercial development of the terminal as a significant part of the terminal’s capacity has now been committed. It clearly demonstrates that the market is committed to Germany’s first LNG terminal and is convinced of its business model as a multi-service terminal, independent ownership and open access. It’s great to have RWE as a valuable business partner on board and work together towards the future success of the LNG terminal.”
Negotiations with other interested parties are ongoing. In addition, the engineering work for the permit approval process is progressing well. If all relevant permits have been obtained and there is sufficient interest in the market, the final investment decision is envisaged for late 2019. Construction work will then start in 2020 with the terminal being fully operational by the end of 2022.
RWE Supply & Trading
RWE Supply & Trading GmbH is a subsidiary of RWE AG with a workforce of around 1,300. Located in Essen, Germany, it is a leading European energy trader and hub for all tradable commodities including gas, coal, oil and power. Its portfolio also includes emission certificates, freight, weather derivatives and biomass. The Company is responsible for the commercial optimization of RWE’s entire non-regulated gas business and offers large industrial companies and trading partners trading-based portfolio management, long-term supply concepts and risk management solutions.
German LNG Terminal GmbH
The German LNG Terminal GmbH is a joint venture of the Dutch companies Gasunie LNG Holding B.V. and Vopak LNG Holding B.V. as well as Oiltanking GmbH, a subsidiary of the Marquard & Bahls AG, based in Hamburg. The aim of German LNG Terminal GmbH is to develop, build, own and operate a multifunctional LNG import terminal in northern Germany. The terminal will contribute to energy diversification in Germany and will support the introduction of LNG as a cleaner fuel alternative in maritime and road transport, lowering the environmental impact of both shipping and heavy goods vehicles transport. The terminal will combine a variety services such as unloading and loading of LNG ships, temporary storage of LNG, regasification and send out into the German natural gas network and LNG distribution by trucks.