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Released November 07, 2018 | GALWAY, IRELAND
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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Germany's government has confirmed that it will be willing to financially support construction of the country's first large-scale liquefied natural gas (LNG) terminal.
Speaking to media, Chancellor Angela Merkel's spokesman Steffen Seibert said: "Private investors are now studying the construction of an LNG terminal at various potential sites ... and the government is studying options for funding under existing federal programs." Recent media reports have stated that the government is willing to co-finance the construction of a 500 million-euro ($575 million) LNG terminal in northern Germany.
Industrial Info is tracking all of the major planned LNG projects in Germany, including those announced for Stade, Brunsbuettel, Wilhelmshaven and Rostock. The country lags behind many of its European counterparts when it comes to diversifying and securing its gas supplies using LNG.
Seibert said that the government's decision to build a terminal would not be influenced by pressure earlier this year from the U.S. "It will be based on Germany's and Europe's interest in having a diversified, secure, competitive and affordable infrastructure for energy imports."
In August, Industrial Info reported that Europe has committed to importing more liquefied natural gas (LNG) from the U.S. following a positive trade meeting between European Commission (EC) President Jean-Claude Juncker and President Donald Trump. Trump has lashed out earlier at the EU for its support for the Russian-led Nord Stream 2 gas pipeline project that will bring gas from Russia under the Baltic to Europe and also for the region's over-reliance on Russian gas imports. For additional information, see August 6, 2018, article - Europe Agrees to Buy More LNG from U.S..
The decision was welcomed by the U.S. State Department. "The United States is committed to European energy security, and U.S. liquefied natural gas plays an important role in energy diversification," said State Department spokeswoman Heather Nauert. "German Chancellor Merkel's decision to co-finance a $576 million LNG shipping terminal in northern Germany is a great step forward." There are 28 large-scale LNG-import terminals in Europe (including non-EU Turkey), according to the 'LNG in Europe 2018' report prepared by King & Spalding. There are also eight small-scale LNG facilities in Europe (in Finland, Sweden, Germany, Norway and Gibraltar). Of the 28 large-scale LNG import terminals, 24 are in EU countries and four are in Turkey. Of those, 23 are land-based import terminals and four are floating storage and regasification units (FSRUs), with one import facility in Malta comprising a floating storage unit (FSU) and onshore regasification facilities. By the end of 2017, total regasification capacity in Europe's 28 large-scale LNG terminals was 227 billion cubic metres of gas, which is sufficient to cover approximately 40% of Europe's gas demand.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Our European headquarters are located in Galway, Ireland. Follow IIR Europe on: Facebook - Twitter - LinkedIn For more information on our European coverage send inquiries to info@industrialinfo.eu or visit us online at Industrial Info Europe.
Speaking to media, Chancellor Angela Merkel's spokesman Steffen Seibert said: "Private investors are now studying the construction of an LNG terminal at various potential sites ... and the government is studying options for funding under existing federal programs." Recent media reports have stated that the government is willing to co-finance the construction of a 500 million-euro ($575 million) LNG terminal in northern Germany.
Industrial Info is tracking all of the major planned LNG projects in Germany, including those announced for Stade, Brunsbuettel, Wilhelmshaven and Rostock. The country lags behind many of its European counterparts when it comes to diversifying and securing its gas supplies using LNG.
Seibert said that the government's decision to build a terminal would not be influenced by pressure earlier this year from the U.S. "It will be based on Germany's and Europe's interest in having a diversified, secure, competitive and affordable infrastructure for energy imports."
In August, Industrial Info reported that Europe has committed to importing more liquefied natural gas (LNG) from the U.S. following a positive trade meeting between European Commission (EC) President Jean-Claude Juncker and President Donald Trump. Trump has lashed out earlier at the EU for its support for the Russian-led Nord Stream 2 gas pipeline project that will bring gas from Russia under the Baltic to Europe and also for the region's over-reliance on Russian gas imports. For additional information, see August 6, 2018, article - Europe Agrees to Buy More LNG from U.S..
The decision was welcomed by the U.S. State Department. "The United States is committed to European energy security, and U.S. liquefied natural gas plays an important role in energy diversification," said State Department spokeswoman Heather Nauert. "German Chancellor Merkel's decision to co-finance a $576 million LNG shipping terminal in northern Germany is a great step forward." There are 28 large-scale LNG-import terminals in Europe (including non-EU Turkey), according to the 'LNG in Europe 2018' report prepared by King & Spalding. There are also eight small-scale LNG facilities in Europe (in Finland, Sweden, Germany, Norway and Gibraltar). Of the 28 large-scale LNG import terminals, 24 are in EU countries and four are in Turkey. Of those, 23 are land-based import terminals and four are floating storage and regasification units (FSRUs), with one import facility in Malta comprising a floating storage unit (FSU) and onshore regasification facilities. By the end of 2017, total regasification capacity in Europe's 28 large-scale LNG terminals was 227 billion cubic metres of gas, which is sufficient to cover approximately 40% of Europe's gas demand.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Our European headquarters are located in Galway, Ireland. Follow IIR Europe on: Facebook - Twitter - LinkedIn For more information on our European coverage send inquiries to info@industrialinfo.eu or visit us online at Industrial Info Europe.
