LTeW is considering new focus of the plans for an import terminal in Wilhelmshaven
- Uniper CEO Schierenbeck: "Import infrastructure to include hydrogen is conceivable in the long term"
- Expression-of-interest procedure for LNG terminal project in Wilhelmshaven concluded at the end of October
- Market players' booking intentions are not enough to continue the project in its present form
LTeW (LNG Terminal Wilhelmshaven GmbH) is re-evaluating previous plans for an LNG terminal in Wilhelmshaven, Germany. The company has decided to do this because of market players' reluctance to make binding bookings for import capacities at the planned terminal in the current circumstances. The procedure for gauging interest from market players ended on Friday last week without a sufficient response. Numerous market players took part in the procedure and expressed general interest, but not enough of them have made their booking intentions binding. The company sponsoring the project is already considering several new options for using the Wilhelmshaven site as an import port for environmentally friendly gas, for example by adapting individual parameters of the terminal or adding new elements. Importing hydrogen directly would also be a possibility in the long term.
Project Manager Oliver Giese, Uniper: "Economic uncertainties have definitely played a role in the current circumstances. Many companies don't want to make long-term commitments at the moment. The results of the expression-of-interest procedure show that we need to revise the scope and focus of the planned terminal to ensure that it remains attractive to market players and economically predictable for LTeW and Uniper."
Uniper CEO Andreas Schierenbeck: "LNG is a growth market and natural gas is playing a bigger and bigger part in ensuring security of supply and in decarbonizing the global energy system. This is why Uniper is committed to ensuring a secure supply of LNG both now and in the future. But it's also clear that all considerations must meet the same strict economic criteria. We will now discuss all this in depth with those who, like me, consider the development of such an import terminal in Germany to be a fascinating idea and will continue to support it."
LTeW indicated several months ago that the final investment decision on the construction of a terminal would be made on the basis of sufficient demand from market players and economic viability.
This press release may contain forward-looking statements based on current assumptions and forecasts made by the management of LTeW and other information currently available to LTeW. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. LTeW has no intention of and assumes no liability for updating these forward-looking statements or modifying them to conform with future events or developments.