LNG Terminal Wilhelmshaven (LTeW), a subsidiary of Uniper, is reconsidering its plans for an LNG terminal at Wilhelmshaven in Germany.
In September 2020, LTeW invited binding expressions of interest from market participants in throughput capacities for the planned LNG terminal. This process ended on 30 October 2020, and while much general interest was expressed, LTeW says that not enough of the interested parties made their booking intentions binding. The final investment decision for the terminal was dependent on demand and economic viability.
The developers are now considering new options, including using the site as an import terminal for environmentally friendly gas, or using it for hydrogen imports.
‘Economic uncertainties have definitely played a role in the current circumstances. Many companies don’t want to make long-term commitments at the moment. The results of the expression-of-interest procedure show that we need to revise the scope and focus of the planned terminal to ensure that it remains attractive to market players and economically predictable for LTeW and Uniper,’ says Uniper project manager Oliver Giese.
Uniper CEO Andreas Schierenbeck adds: ‘LNG is a growth market and natural gas is playing a bigger and bigger part in ensuring security of supply and in decarbonising the global energy system. This is why Uniper is committed to ensuring a secure supply of LNG both now and in the future. But it’s also clear that all considerations must meet the same strict economic criteria. We will now discuss all this in depth with those who, like me, consider the development of such an import terminal in Germany to be a fascinating idea and will continue to support it.’