RWE Draws Up Plans to Exit Controversial German LNG Project
- Political rows and delays on key decisions are deterring RWE
- Ruegen is well-located to make use of Nord Stream network
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RWE AG is drawing up plans to pull out of a controversial liquefied natural gas project on the Baltic Sea island of Ruegen deterred by political rows including about the location of the project.
The utility had been lined up to build the floating terminal and at the end of last month RWE said talks were still ongoing with the government. But a lack of agreement between local and federal officials who are stalling on key decisions about the facility is causing RWE to consider exiting the project, according to people familiar with the matter who asked not to be identified as the matter is private.