Signing of chartering contract for fifth FSRU in Germany
October 26, 2022
Patrick Graichen, State Secretary at the Federal Ministry for Economic Affairs and Climate Action, and Steve Kobos, President and CEO of Excelerate Energy, have signed a chartering contract for the Federal Government’s fifth floating storage regasification unit (FSRU) in Germany. The floating platform is to be used at the Wilhelmshaven site from Autumn 2023.
State Secretary Patrick Graichen asserted that thanks to the fifth floating LNG terminal, the independence from pipeline natural gas deliveries is strengthened and the necessary infrastructure for secure energy imports is created. As a result, further ensuring more independence from imports of Russian pipeline gas.
The FSRU is chartered for five years, but will only operate at the Wilhelmshaven site until the green hydrogen land terminal currently planned by TES goes into operation. In the medium term, this terminal will import green LNG for conversion into hydrogen.
The FSRU terminal opens another direct import route to supply the German market with natural gas from regions to which there is no pipeline connection. The FSRU can regasify around 5bcm per year and therefore represents a significant contribution to security of supply. The international project consortium of Tree Energy Solutions (TES), E.ON, and Engie will implement the project as fast as possible, taking into account all approval and state aid requirements.
About TES
TES is a global green energy company leading the way in the production of e-NG (electric natural gas derived from green hydrogen). Headquartered in Europe, TES is committed to making reliable and affordable green energy accessible to all by implementing giga-scale projects using a proven, scalable and cost-effective method. With a presence in North America, Middle East, Asia and Australia, the company’s green hydrogen model uses solar and wind energy in low-cost areas with abundant sunlight or wind. The green hydrogen is then combined with climate-neutral CO2 and transformed into e-NG, a renewable molecule, easy to transport and store using existing infrastructure. Through the supply of e-NG to various industries, TES aims to win the climate race ensuring the mass adoption of green molecules across the globe.