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Plan Underway to Subdue Russian Gas With German LNG Terminal

  • LNG terminal near Hamburg could cost up to $600 million
  • Nuclear exit, coal phaseout boost Russian gas dependency
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The old trading city of Hamburg in northwest Germany will soon become the center for a drive in Europe’s biggest economy to diversify natural gas imports.

Three partners are forging plans to build a terminal for liquefied natural gas on the shores of the River Elbe, not far from an old nuclear reactor that’s fallen victim to the nation’s atomic exit. Costing as much as $600 million, the LNG import facility would be Germany’s first and a tool to supplement pipeline supply from Russia and Norway.