Novatek and Fluxys signed a Land Lease Agreement with the Rostock Port for constructing a mid-scale LNG transshipment terminal based in the port of Rostock in Germany.
According to the joint venture, the two companies will design, construct, finance, own and operate a mid-scale LNG transshipment terminal, which will have a capacity of about 300 thousand tons per annum in the port of Rostock.
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The LNG Terminal will accommodate LNG carriers from the Cryogas-Vysotsk liquefaction facility that Novatek is constructing in the port of Vysotsk near the Saint-Petersburg area, while more LNG deliveries to the consumer market will be made using trucks.
The LNG Terminal will also have an option of bunkering and loading of bunkering vessels.
Leonid Mikhelson, Novatek’s Chairman of the Management Board, noted that this terminal will enable the establishment of an effective marketing channels on different markets.
The LNG Terminal will also allow Novatek to market LNG as a marine fuel and motor fuel instead of diesel and fuel oil that will contribute to reduce emissions.
