European energy company RWE and German LNG Terminal GmbH, the joint venture driving Germany’s first LNG terminal in Brunsbüttel in Northern Germany, have reached an agreement for a considerable part of the terminal’s capacity on a long-term basis. This contract follows a successful ‘Open Season’ in which market interest was tested.
The total capacity of the combined LNG import and small-scale terminal will be 5 billion cubic metres. RWE has signed a Heads of Agreement that guarantees RWE access to substantial annual capacity.
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.
…said Andree Stracke, Chief Commercial Officer Gas Supply & Origination of RWE Supply & Trading GmbH.
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 start in 2020 with the terminal is expected to be fully operational by the end of 2022.