Page 11 - GLNG Week 26 2022

GLNG EUROPE GLNG

Germany considers

expropriating Nord Stream 2

PROJECTS GERMANY is considering repurposing parts of Fluxys, Switzerland’s Partners Group and Ham-
Russia’s unused Nord Stream 2 gas pipeline for burg-based Buss Group. Planning approval
importing LNG, Der Spiegel magazine reported is currently being sought for the €800mn
on June 27. ($880mn) project. A non-binding round for its
The government in Berlin suspended the cer- capacity took place in February last year and
tification process necessary for Nord Stream 2 to indicated sufficient interest. A final investment
flow gas, days before Moscow began its invasion decision (FID) is officially targeted for next year,
of Ukraine. With Europe now scrambling to but given Germany’s renewed commitment
sever gas ties with Russia, it is now very doubtful in LNG, the milestone may be reached sooner.
that the project will be put to commercial use. Operations are due to start in 2026.
According to Der Spiegel, the German gov- Uniper, meanwhile, is pursuing a 7.5 bcm
ernment is looking at expropriating the German per year project in Wilhelmshaven, which failed
section of Nord Stream 2, by cutting it off from to secure sufficient capacity booking interest in
the rest of the pipeline and converting it into the past, but is now back on the table. Uniper
a connection for an LNG terminal. Kremlin announced on May 5 it had chartered two float-
spokesman Dmitry Peskov said on June 24 that ing storage and regasification units (FSRUs) for
Moscow could not comment on the report by the the project, which is due online in two stages in
newspaper, saying such steps would be a matter 2022-23 and 2025. A second, 2.2 bcm per year
for lawyers to discuss. FSRU has been proposed in Wilhelmshaven
Germany has embraced LNG as part of a by Tree Energy Solution, with a launch target
drastic shift in its energy policy. The country of 2025. Finally, Gasunie wants to launch an 8
currently does not buy any LNG, relying instead bcm per year facility in 2026 in Brunsbuettel,
on mostly gas from Russia and the North Sea. all sooner if progress is fast. The project secured
There are now four LNG import projects in play backing from Germany energy group RWE in
in Germany that are making significant progress. early March, and is set to get funding from Ger-
The largest of the planned terminals is in man development bank KfW.
Stade, and will have a capacity of 12bn cubic Der Spiegel did not say which LNG termi-
metres per year. It is backed by Hanseatic Energy nal the government wanted to repurpose Nord
Hub, whose shareholders include Belgium’s Stream 2 for.™

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