Friday, December 7, 2007
INTERNATIONAL - COMPANIES: RWE looking for piece of Excelerate
7 December 2007
Gas Matters Today
RWE is in talks to acquire a stake in Excelerate Energy. An RWE spokeswoman confirmed to Gas Matters Today that exclusive negotiations are under way between the pair but did not reveal any further details.
She pointed out that the companies are already in cooperation. RWE markets gas from Excelerate's onboard regasification LNG facility at Teesside in the UK. And, in June, they announced plans to jointly develop an LNG import project at Wilhelmshaven in Germany in conjunction with Nord-West Oelleitung GmbH (NWO). The project, called German GasPort, would use similar technology to Teesside and is expected to be able to feed up to 14.4 MMcm/d of gas directly into the German gas pipeline network by late 2010.
