RWE and German LNG Terminal have reached an agreement for a substantial amount of capacity at the Brunsbüttel terminal.
This follows a successful open season for the LNG import and small-scale terminal, which will have a total capacity of five billion m3. RWE, one of Europe's leading energy companies, has signed a contract that guarantees RWE access to substantial annual capacity.
Andree Stracke, CCO gas supply & origination of RWE Supply & Trading, says: 'We believe that together with Germany LNG Terminal we can fully develop a significant business around the terminal delivering LNG and gas to our customers in Germany and throughout Europe.
'LNG remains a key growth area for RWE: this agreement will enable us to continue growing our portfolio and provide us with additional flexibility to take advantage of new opportunities as they present themselves in the global LNG market.'
Ulco Vermeulen (member of executive board, N.V. Nederlandse Gasunie), Daan Vos (managing director, Oiltanking) and Kees van Seventer (president, Vopak LNG Holding) said in a joint statement: 'This is an important step in the commercial development of the terminal as a significant part of the terminal's capacity has now been committed. It clearly demonstrates that the market is committed to Germany's first LNG terminal and is convinced of its business model as a multi-service terminal, independent ownership and open access.'
Negotiations with other interested parties are ongoing. The final investment decision for the facility is expected by late 2019 and construction work will then start in 2020 with the terminal being fully operational by the end of 2022.
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