German LNG terminal could supplement Russian gas supply
An LNG regasification terminal to be built on the Elbe river in Hamburg, Germany could help advance the country's drive to diversify its natural gas import sources. At present, Germany sources most of its gas from Russia (63% of supply) and Norway (35%) via pipeline.
Three partners—including Nederlandse Gasunie NV, Koninklijke Vopak NV and Oiltanking GmbH—are working together to fund the $300 MM–$500 MM Brunsbuettel terminal project.
The ability to import as much as 5 Bm3y of LNG will also help Germany offset the drop in power from the closure of its nuclear plants, the last of which is slated to close in 5 yr. It will also reduce import costs for customers who face dwindling LNG supplies from the Gate LNG terminal in Rotterdam, The Netherlands.
The JV will gauge customer interest in the Brunsbuettel terminal ahead of a planned FID in 2019, and operations could begin by the end of 2022. The terminal will also offer LNG as fuel for seagoing vessels and heavy trucks.
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