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    Wakashio

    JTSB releases its final report on Wakashio grounding

    longlinder grounded

    Crewmember falls from tanker off Boston

    New partnership aims to reduce the risks posed by dry bulk cargoes

    St. Lawrence Seaway resumes traffic as grounded vessel is refloated

    High risk of asbestos exposure at shipyards: What to be aware of

    High risk of asbestos exposure at shipyards: What to be aware of

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    thinking out of the box

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    Practicing gratitude can change your life

    Always do what your gut tells you: Keep it healthy

    Always do what your gut tells you: Keep it healthy

    Book Review: A role model for ship managers

    Book Review: How we perceive and deal with luck in life and business

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    Seaside LNG becomes the latest member of the SEA-LNG coalition

    Seaside LNG becomes the latest member of the SEA-LNG coalition

    Grieg Green: It’s time to shed our focus on workers’ rights at ship recycling facilities

    GMS: India recyclers affected by improving sentiment

    KCC combines several energy saving technologies for maximum results

    KCC combines several energy saving technologies for maximum results

    cma cgm french shipping decarbonization

    CMA CGM completes massive methanol feeder order

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    Two COSCO companies issue their first electronic bills of lading

    Two COSCO companies issue their first electronic bills of lading

    Jotun Hellas pioneers vessel maintenance and safety with novel Aerial Drone Inspection Service

    Jotun Hellas pioneers vessel maintenance and safety with novel Aerial Drone Inspection Service

    IUMI explores the implications of digitalization on marine insurance

    IUMI explores the implications of digitalization on marine insurance

    UK-Singapore consortium achieves world’s first fully-digitalised shipment

    UK-Singapore consortium achieves world’s first fully-digitalised shipment

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    MARPOL 50 Watch Column: Expert thinking on tackling marine pollution and climate crisis worldwide

    MARPOL 50 Watch Column: Expert thinking on tackling marine pollution and climate crisis worldwide

    Valenciaport: ETS poses many risks for non-EU ports

    Valenciaport: ETS poses many risks for non-EU ports

    World Maritime Day 2023: Celebrating 50 years of MARPOL

    World Maritime Day 2023: Celebrating 50 years of MARPOL

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    Gard Club: Industry needs to mature and learn from incidents and human errors

    Gard Club: Industry needs to mature and learn from incidents and human errors

    Tokyo MOU: Fire Safety is one of the most frequently detainable deficiencies

    Tokyo MOU: Fire Safety is one of the most frequently detainable deficiencies

    Seafarer Stories: Capt. Cristian Bacanu, Master

    Seafarer Stories: Capt. Cristian Bacanu, Master

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SAFETY4SEA

Zeebrugge LNG terminal secures long-term contracts up to 2044

by The Editorial Team
July 3, 2019
in Fuels
Zeebrugge LNG terminal secures long-term contracts up to 2044

Zeebrugge LNG Terminal/Credit: Fluxys

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CREG, the Belgian Federal energy Regulator, approved the tariff and LNG Services Agreement proposals for unloading slots and additional storage services at the Zeebrugge LNG terminal; Thus terminal operator Fluxys LNG is able to finalise new long-term contracts for the facility up to 2044.

The long term contracts for unloading at the Zeebrugge LNG terminal expire horizon 2028. The subscription window was open from April 30 to May 24, 2019, where unloading slots and additional storage services at the Zeebrugge LNG terminal were offered over subsequent periods up to 2044.

Now, CREG and Fluxy’s support that the positive results of the subscription window process are the result of the factors below:

  1. Gas import needs in Northwest Europe are set to rise significantly: gas production in The Netherlands and the North Sea is declining, while gas demand for power generation will increase to accommodate the phase-out of sizeable coal, lignite and nuclear power generation capacity in the region.
  2. The subscription window offered an attractive tariff proposition together with optimum destination flexibility throughout Northwest Europe from a strategically positioned LNG terminal: the Zeebrugge facility is directly linked into the Belgian market (ZTP), is fully interconnected with the gas systems of all surrounding markets (TTF, Gaspool, NCG, TRF and NBP) and take-away capacity from the terminal is readily available.

Pascal De Buck, CEO and Chairman of the Executive Board Fluxys Belgium commented

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Today is a milestone for Fluxys Belgium as we will secure stable return from the Zeebrugge LNG terminal up to 2044. CREG’s approval allows us to turn binding interest from the market into new long-term contracts worth roughly €1 billion.

In addition, Laurent Jacquet, Director of the CREG added that tariffs will experience a decrease for all terminal users who unload and store LNG and inject natural gas into the transmission system. The new tariffs enable CREG establish a solid and stable framework for regulatory supervision in the future.

Tags: LNG infrastructureLNG market
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