LNG

Construction of an onshore LNG import terminal at Brunsbüttel is more expensive than expected, forcing Germany to support it with another €200 million in federal funding – on top of the €740 million initially committed. Broadcaster NDR reports total costs now surpass €1,5 billion, instead of €1.3 billion, with private investors having to shoulder most of the overrun.  

German Chancellor and leader of European Union socialists Olaf Scholz talked down fossil fuels in a major speech and stated  that renewable energy like wind and solar are the future and could be the saviours of German industry and the beleaguered economy.

Feb 12 (LNGJ) - Three cargoes are heading for the Netherlands and Germany in the next week. The “Grace Emilia” with 173,955 cubic metres capacity is scheduled to deliver a US cargo to the Dutch Gate terminal in Rotterdam on February 16, according to shipping data. The shipment was loaded on February 4 at the Cove Point plant in Maryland.

   The “Alicante Knusten” with 174,000 cubic metres capacity is due to deliver a US cargo on February 17 to the Rotterdam terminal and which was loaded on February 2 at the Sabine Pass export plant in Louisiana. The carrier “Castillo De Caldelas” with capacity of 176,300 cubic metres is scheduled to discharge a shipment on February 19 at the German import terminal at the North Sea port of Wilhelmshaven. The cargo was lifted on February 2 from the Sabine Pass plant.

Two years after the establishment of a broader German market area through the Trading Hub Europe (THE), the “trading rate” of H-Gas with a methane content of 87-99 percent and which costs more than L-Gas due to its higher energy content, has surpassed the four-point mark for the first time.

Excelerate Energy, the leading US provider of floating storage and regasification units (FSRUs) with increased demand from Europe and South America, reported higher net income from natural gas sales in Brazil and Finland and German charter income.

April 13 (LNGJ) - Two US LNG cargoes are heading for Germany next week. The “LNG Rosenrot” with 177,000 cubic metres of capacity is scheduled to deliver a cargo on April 20 from Freeport export plant in Texas to the floating LNG facility at the North Sea port of Wilhelmshaven, according to shipping data

   The “Minerva Amorgos” with 174,000 metres capacity is also due to deliver a cargo on April 20 from the Sabine Pass plant in Louisiana to the German Baltic Sea terminal at Lubmin.

Japan Bank for International Cooperation (JBIC) has signed loan agreements underwriting project financing amounting to over US$2.3 billion for a power interconnector between  UK and German LNG import locations to also help guarantee against any future natural gas and LNG shortages.

Varo Energy Group, has acquired control of Dutch company Bio Energy Coevorden BV a leading European producer of biogas made from waste, and aims to double production as it forecasts a 10-fold rise in Bio-LNG demand in Europe by countries like new LNG importer Germany.

German Chancellor Helmut Scholz has led an inauguration ceremony for the nation’s first LNG floating storage and regasification unit (FSRU), the “Höegh Esperanza”, at the North Sea port of Wilhelmshaven.

Spanish terminals and network operator Enagás loaded Germany's first floating storage and regasification unit (FSRU), the “Höegh Esperanza”, before it arrived on December 15 at the German North Sea port of Wilhelmshaven.