LNG

Feb 17 (LNGJ) - Uniper, the German utility almost brought down by the stoppage of pipeline natural gas supplies from Russia’s Gazprom, reported an annual net loss of €19.1 billion ($20.4Bln) in its earnings just published. The Düsseldorf-based company noted that it had to receive a stabilization package from the German Federal finance agency to survive. Uniper’s bad luck was compounded as it was also a buyer of LNG cargoes from the US Freeport LNG plant in Texas closed by the June 8 fire. This happened several months before Uniper completed its North Sea Wilhelmshaven LNG terminal using the floating storage and regasification unit, the “Höegh Esperanza”.

   Uniper expects profits to recover in 2023 after last year's record loss, as it now has access to LNG amid falling prices. “The exceptionally swift construction of Germany’s first LNG terminal in Wilhelmshaven has demonstrated that Uniper is a reliable partner for complex infrastructure projects,” said Klaus-Dieter Maubach, the Chief Executive of Uniper who is now stepping down.

German utility Uniper, which has had to be bailed out by the German Government, said it expected the first floating storage and regasification unit (FSRU) planned for the North Sea port of Wilhelmshaven to come on line before the year-end.

The 50th anniversary Gastech Exhibition and Conference on LNG, pipeline natural gas and emerging energies entered its third day on Wednesday after serious discussions on the natural gas crisis in Europe, the future of Gazprom's ties with the West and projects to replace Russian gas from regions like the East Mediterranean and Africa.

Nov 9 (LNGJ) - LNG Terminal Wilhelmshaven GmbH, the developer of a floating regasification facility on the German North Sea coast led by the utility company Uniper, said it was re-evaluating its plans. Uniper itself explained that this situation had been caused by the reluctance of market players to make binding bookings for import capacities in the current circumstances. Uniper CEO Andreas Schierenbeck said that LNG was a growth market and natural gas is playing a bigger part in ensuring security of supply and in decarbonizing the global energy system.

   “This is why Uniper is committed to ensuring a secure supply of LNG both now and in the future. But it's also clear that all considerations must meet the same strict economic criteria,” added the Uniper CEO. “We will now discuss all this in depth with those who, like me, consider the development of such an import terminal in Germany to be a fascinating idea and will continue to support it,” stated Schierenbeck.