German LNG Terminal, the venture behind a planned liquefied natural gas terminal at Brunsbuettel, is expected to make an investment decision on the project shortly after binding import contracts have been finalised at the end of 2020, it said.
RWE, Germany’s largest power producer, has secured potentially 5 billion cubic metres of import capacity it could use to market the supply if the project goes ahead.
“Currently the parties are in the final phase of negotiating fully binding legal contracts for LNG imports,” RWE and German LNG Terminal said in a joint statement on Thursday.
“RWE and German LNG expect this process to be finalised by the end of 2020, putting German LNG in a position to reach a positive investment decision shortly thereafter.”
The groups said they had agreed to explore whether hydrogen could play a role with regard to the terminal.
German LNG Terminal is a joint venture of Dutch gas network operator Gasunie, German tank storage provider Oiltanking GmbH, and Dutch storage company Vopak LNG Holding .
Source: Reuters (Reporting by Christoph Steitz; editing by Thomas Seythal)