Following the announcement of the fast tracking of German LNG terminals mentioned in LNG Shipping News 3rd March, at least two projects are now moving ahead.
First, the shareholders and management of German LNG Terminal and the German Federal Government have agreed key points to move Brunsbüttel on.
On 4th March, 2022, Gasunie and the Kreditanstalt für Wiederaufbau (KfW) (on behalf of the German Federal Government) signed a Memorandum of Understanding (MoU) to take the project onto the next phase and start the joint construction of the LNG terminal in Brunsbüttel. KfW will join the project as a shareholder.
Gasunie was deemed the best partner for the German Government to complete the terminal project quickly and successfully in order to ensure stable energy supply with gas and enhance security of supply in Germany.
Having worked together to build up the company, Vopak LNG Holding and Oiltanking, a subsidiary of Marquard & Bahls, will leave the group by May this year.
One consequence of this shareholder structure change will be that the former joint managing director Philipp Kroepels will return to Oiltanking, while Dr Michael Kleemiß will remain as Managing Director. He has almost 25 years of experience in the natural gas business in both Germany and the Netherlands and has been working on the project for some time.
The planning approval process, which was started last year, is being moved ahead at full speed, the parties said. In addition, the general contractor (EPC) consortium, Cobra/Sener, will be commissioned to start the preparatory work immediately.
Brunsbüttel will include a jetty with two berths for vessels up to Q-Max size and facilities for the distribution of LNG by truck, railway wagons and smaller vessels.
It will also have two LNG tanks with a capacity of 165,000 cu m each and an LNG regasification plant.
Wilhelmshaven back on
Second, Uniper has announced that it is to resume planning the Wilhelmshaven LNG receiving terminal.
These activities will be closely linked to plans to make Wilhelmshaven a green energy hub, with green ammonia import and hydrogen production to fulfil more than 10% of the German hydrogen demand in 2030, the company said.
However, talks with NOVATEK on the import of ammonia have been put on hold.
In addition, Uniper said that it expected to take a hit on the Nord Stream 2 financial claim and will recognise an impairment loss of its loans to the project of €987 mill.
On 4th January, 2022, Uniper was granted a credit facility of €2 bill by KfW bank. This facility has not yet been drawn and expires at the end of April.
As a precautionary measure in the light of continuous volatile markets, Uniper asked for an extension of the credit facility, which will continue to serve as a back-up facility in case of further extreme commodity market developments, the company explained.
