Friday, June 29, 2007
Excelerate Energy signs up to develop LNG regas port in Germany
June 29, 2007
Lucy Hine London
Tradewinds
Terminal-hungry Excelerate Energy has hooked up with business partner German utility RWE and its compatriot, Nord-West Oelleitung, to develop a quick-start LNG-import facility at Wilhelmshaven in northern Germany.
Excelerate president Kathleen Eisbrenner says the terminal is one of several the company is planning to develop in Europe with RWE.
She adds that the facility will be similar to the Teesside GasPort terminal opened by Excelerate in the UK in February.
She says the partners have already secured an existing deepwater-port site and jetty at Wilhelmshaven through which cargoes would be brought in using Excelerate's fleet of regasification vessels.
RWE says the gas port could supply some 600,000 cbm of regasified LNG per hour into the German grid.
The partners have said they are aiming for 2010 start-up. Eisbrenner says operations could start sooner but this will depend on how discussions go with the regulatory authorities.
Excelerate and RWE are planning to hold up the example of Teesside, which they fast-tracked to completion in just 13 months.
Teesside has only imported a small part of one LNG cargo since it first opened.
Eisbrenner says the Wilhelmshaven project would most likely be used to bring in cargoes during demand peaks and to provide security of supply to Germany.
RWE chief executive officer Harry Roels said: "It is our aim to significantly strengthen our position in the gas business and to ensure Germany has access to multiple sources of gas to guarantee security of supply."
Eisbrenner describes the project as "an alternative" to the LNG terminal German utility giant E.ON is currently developing at Wilhelmshaven.
