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Liquefied gas: More independence from Russian gas - Ministry of Economic Affairs announces operator for LNG terminal

2022-08-01T13:05:09.663Z


Liquid gas is supposed to help Germany out of its dependency on Russia. According to a report, the government has now published the operators of a terminal in Lubmin: The German energy company RWE is also involved.


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RWE main branch in Essen

Photo: Reuters Photographer / REUTERS

The liquid gas terminal planned by the federal government in front of Lubmin near Greifswald is to be operated by the German energy company RWE and the Norwegian Stena-Power.

This was announced by the Federal Ministry of Economics, previously the Norddeutscher Rundfunk had reported on it.

Commissioning is planned for the end of 2023 at the earliest.

According to the German government, four LNG terminals are to be built in the north in order to become less dependent on Russian gas supplies.

One is scheduled to go into operation in Brunsbüttel at the turn of the year.

Two more landing and conversion sites, which will receive liquefied natural gas from tankers and turn it into gas, are planned in Stade and Wilhelmshaven.

According to the plans, there will ultimately be two terminals for liquid gas in Lubmin.

A first, private terminal owned by Regas is scheduled to go into operation on December 1, 2022.

The company wants to feed 4.5 billion cubic meters of natural gas delivered by tankers into the German grid every year.

Shallow water depth in the Baltic Sea becomes a challenge

To do this, the company wants to station a so-called regasification ship in the Lubmin industrial port and convert the liquefied petroleum gas into natural gas there.

According to the company, it is only 450 meters from the berth to the long-distance network with the Eugal and Nel lines.

A challenge for the terminals off Lubmin is the low water depth of the Baltic Sea.

The LNG tankers should therefore anchor in front of the Greifswalder Bodden.

There, according to the Regas plans, the LNG will be reloaded into smaller tankers and taken to Lubmin.

Three shuttle ships are planned for this.

According to the information, there are practically no adverse effects on the environment, since, among other things, the existing infrastructure would be used.

Last week, thanks to good business, RWE was able to sharply raise its profit forecast for the current year.

The reason for this is "an extraordinarily good result" in the water/biomass/gas segment and in the energy trading division "due to a strong operating performance".

If the profit expectations, which increased significantly during the crisis, materialize, the group could fall into the category of companies that want to include parts of the federal government in an excess profit tax.

The special tax is being discussed because energy companies in particular are benefiting from the high prices caused by the Ukraine war.

According to a spokesman, such a levy is currently not an issue for Chancellor Olaf Scholz (SPD).

"From the Chancellor's point of view, an excess profit tax is currently not planned," said deputy government spokesman Wolfgang Büchner in Berlin.

In this context, he referred to the provisions of the coalition agreement.

ani/dpa

Source: spiegel

All business articles on 2022-08-01

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