Germany Bolsters LNG Import Capability to Replace 30% of Russian Gas
- May 6, 2022
- Posted by: Quatro Strategies
- Category: Energy
German utility company Uniper said it made an agreement with Greece based Dynagas to charter two large floating storage and regasification units (FSRUs). The units could replace 30% of Germany’s current Russian gas imports.
The two FSRUs built in 2021 each have a natural gas send out capacity of up to 7.5 billion cubic metres (bcm) per year. They have a capacity to store 174,000 cubic metres of LNG.
The combined capacity of the two units is close to around 30% of Russian gas imports into Germany. The FSRUs are expected to go into operation in early 2023.
First gas send-out depends on the completion of the onshore installations at the sites selected by the German government, Uniper said.
Germany depends on pipelines from Russia for one third of its natural gas needs. Gas imports from Russia reached 142 bcm in 2021.
Thanks to the FSRUs, Germany will be able to import LNG. Currently, the country lacks a terminal to receive such cargoes.
Germany also signed a binding agreement on Thursday to charter two FSRUs from Norwegian vessel operator Hoegh LNG for a 10-year term in a deal facilitated by utility company RWE.
Germany’s Economy Ministry recently said it wanted four FSRUs to speed the diversification of the country’s energy in the wake of Russia’s invasion of Ukraine.
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