Gate terminal achieves new milestonesRotterdam | press release
- Gate terminal B.V. and Port of Rotterdam agree on long term lease of 23 ha.
- Shell Energy Europe B.V. signed a Heads of Agreement with Gate terminal B.V.
- The European Commission agrees to the exemption granted by the Dutch government
Gate terminal B.V., a joint venture between N.V. Nederlandse Gasunie and Koninklijke Vopak N.V., develops a Liquefied Natural Gas (LNG) import and regasification terminal on the Maasvlakte near Rotterdam. The Gate terminal project has reached a number of important milestones.
The boards of Gate terminal B.V. and Port of Rotterdam have agreed to a long term lease of 50 years for 23 hectares on the Maasvlakte, which is expected to be formally approved shortly by shareholders of the Port of Rotterdam. The Port of Rotterdam will develop this area to accommodate the specific layout for the LNG terminal.
Shell Energy Europe B.V. and Gate terminal B.V. have signed a Heads of Agreement for capacity rights for a maximum of 4 billion cubic meters of annual throughput in the Gate LNG regasification terminal in Rotterdam. The agreement would provide Shell capacity rights at a later stage of the Gate terminal project.
The European Commission agrees to the decision by the Dutch Minister of Economic Affairs to grant Gate terminal an exemption from the regulatory regime as laid down in the Dutch Gas Act.
With above milestones achieved, the project is moving ahead according to plan and, if all other milestones will be reached as well, a final investment decision can be taken around mid 2007. The Gate terminal could then become operational earliest mid 2010.
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