Germany Rents Floating LNG Hubs to Cut Reliance on Russian Gas
- First of four terminals to come online around the end of 2022
- Imports of Russian gas to be broadly phased out by mid-2024
The first pile driving at the future jetty for the Floating Storage and Regasification Units for LNG imports, in Wilhelmshaven, Germany, on May 5.
Photographer: Sina Schuldt/picture alliance/Getty Images
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Germany signed contracts to charter four floating terminals to import liquefied natural gas in partnership with utilities RWE AG and Uniper SE as it races to reduce its energy dependence on Russia.
Shipping companies Hoegh LNG and Dynagas will each provide two of the LNG terminals -- which together have the capacity to convert at least 20 billion cubic meters of the super-cooled gas per year, about a fifth of Germany’s needs, the economy ministry said Thursday in an emailed statement. RWE and Uniper will operate them, it added.