Page 4 - EurOil Week 09 2021

EurOil COMMENTARY EurOil

Fluxys signs up for

German LNG project

Hanseatic says it has found the “world-class

industrial partner” it has been searching for

BELGIUM BELGIUM’S Fluxys has signed up to be an entry into the project comes after private equity
“industrial partner” at the planned Stade LNG firm Partners Group made an investment in
WHAT: import terminal in Northern Germany, tak- Hanseatic in December.
Fluxys has agreed to ing the ambitious project a step closer towards “We have been on the lookout for a world-
become an “industrial realisation. class industrial partner to join the development
partner” at the Stade Stade LNG is the biggest of several LNG and operate the terminal on a long-term basis,
LNG import project in import schemes in Germany, which already and we found that in Fluxys,” Hanseatic’s man-
Germany. has access to a diversified mix of gas supplies aging director, Manfred Schubert, said in a state-
but is looking to strengthen its position as a hub ment. Fluxys’ involvement will be finalised once
WHY: for central Europe. The terminal is expected to the default merger clearance procedure with
It is one of three receive up to 12bn cubic metres per year of gas competent authorities is completed.
proposed terminals in beginning in 2026. It is also the German terminal Hanseatic and Fluxys said they wanted to
Germany, a market that project that is arguably most likely to succeed at develop a terminal that produces nearly zero
is already well-supplied the moment. carbon, using excess heat from local industry for
with gas. While project developer Hanseatic Energy the regasification process. The terminal will also
is yet to take a final investment decision (FID) act as an LNG distribution hub, supplying LNG
WHAT NEXT: on the scheme, the non-binding phase of an via rail, road, small-sized ships and barges. The
The longer Germany’s open season for the terminal’s capacity that was terminal’s location in a chemical industry cluster
LNG projects stall, the finished in mid-February confirmed sufficient will also help develop low-carbon gases, Fluxys
less likely it is that market interest, Hanseatic has said. The binding said.
they will be realised, stage will commence sometime in the next three “The Stade LNG terminal is set to be a key
given growing antipathy months. enabler of Germany’s energy transition by cre-
towards hydrocarbons in Fluxys did not specify exactly how it would ating an additional energy entry gate for LNG
Europe contribute towards Stade LNG. The company’s and low-carbon gases, with clean operations

P4 www. NEWSBASE .com Week 09 04•March•2021