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 developing giga-scale projects to accelerate the transition to net-zero.
In Europe, TES’ projects strengthen energy security and the diversification of energy imports, as well as support the European Union’s decarbonisation efforts. In Wilhelmshaven, Germany, TES is developing a green energy terminal, that will serve as a major hub for sustainable molecules. The already operating floating storage and regasification unit (FSRU) will be followed by a large-scale onshore LNG terminal and a CO₂ export terminal. Globally, TES leverages renewable energy solar, wind, and hydro, along with climate-neutral CO₂ for the production of e-NG (electric natural gas), a drop-in synthetic gas made from green hydrogen and captured CO₂. Large-scale e-NG projects are underway in the US (Live Oak), Canada (Project Maurice), and across Europe, and the Middle East. These green molecules support the shift to real zero emissions across industries and help win the race against climate change.