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feat. GRAPHIC WARNING Germany in race against time to deploy new LNG import terminals, 1 Jul

The government is fast-tracking FSRU deployment and in May parliament approved a law designed to accelerate the approval process for new LNG import terminals. And the German regulator in June said it planned to lower the feed-in tariffs at LNG terminals by 40%, significantly improving the competitiveness of direct access into the unified German gas market hub, the THE.

Accelerated efforts
But according to industry group Zukunft Gas, work needs to speed up. "In order to achieve a capacity of 13 Bcm via LNG terminals in the coming year, the pace of constructing and expanding LNG capacities needs to increase." Zukunft Gas chair Timm Kehler said in emailed comments.
The German government acted quickly to charter four FSRUs -- two via Uniper [.RU] and two via RWE -- but it takes time to prepare the sites to hook up the vessels.

"So far we only know of one of these floating LNG terminals, Wilhelmshaven, to have a clear realization perspective," Kehler said.

And having import capacity is only one part of the puzzle -- Germany also needs LNG supply. The [IEA] has warned that Europe's pursuit of LNG to phase out Russian pipeline supply and limited global LNG export capacity additions raised the risk of prolonged tightness in markets. Germany has held talks with Qatar and Canada on the potential for LNG supply deals, while utilities EnBW and RWE are also eyeing long-term deliveries of US LNG....

by Cat on Fri Jul 1st, 2022 at 03:28:58 PM EST
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