Germany charters fifth floating LNG terminal

9/1/2022

(Reuters) - The German government plans to charter another floating LNG terminal for winter 2023/24, bringing the total number to five, as part of its strategy to diversify away from Russian energy.

The fifth state-owned floating storage and regasification unit (FSRU) will come to Wilhelmshaven, where another FSRU is already planned, and has a capacity of 5 B cubic metres per year, said the Economy Ministry on Thursday.

"All the steps we take to free ourselves as quickly as possible from the clutches of Russian imports are more necessary than ever," said Economy Minister Robert Habeck in announcing that the ministry's selection of companies to manage the FSRU.

E.ON Green Gas, Engie and Germany's Tree Energy Solutions (TES) will manage the new terminal, which they said should start at before the heating period 2023.

Germany in May leased four floating storage and regasification units (FSRUs) for the import of at least 5 billion cubic metres a year each of seaborne gas, of which two are due to become available this year.

Berlin had previously said that a fifth FSRU could be taken into service by a private consortium.

(Reporting by Markus Wacket, Writing by Miranda Murray and Maria Sheahan, Editing by Madeline Chambers)