Market responds positively to first German LNG import terminalHamburg
German LNG Terminal GmbH has announced today that it has successfully completed its “Open Season” for the planned LNG import terminal in Brunsbuettel in Northern Germany. The German LNG Terminal GmbH is a joint venture of the Dutch companies Gasunie LNG Holding B.V. and Vopak LNG Holding B.V. as well as Oiltanking GmbH, a subsidiary of the Marquard & Bahls AG, based in Hamburg.
This “Open Season”, which is a dedicated process to determine market interest and identify potential customers, resulted in a positive outcome: a considerable number of Memorandums of Understanding has been signed with companies that represent a comprehensive range and complementary interests, ranging from regasification to send out and LNG distribution services.
Next steps include further discussions with potential customers with a view to sign Head of Agreements. In addition, the necessary engineering work for the permit approval process has already been started by engineering company Tractebel to be able to apply for the relevant permits by the end of 2018. German LNG Terminal states that if all goes to plan, including obtaining the necessary permits by then, it is due for taking a final investment decision at the end of 2019. In that case the terminal could possibly become operational by the end of 2022.