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Signing of chartering contract for fifth FSRU in Germany

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Signing of chartering contract for fifth floating storage regasification unit (FSRU) in Germany

Berlin – 25 October 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

Tree Energy Solutions (TES) is a green hydrogen company supplying long term non-intermittent carbon-neutral energy on-demand at industrial scale. TES aims to accelerate the energy transition by leveraging existing global energy infrastructure to reach customers with green hydrogen, green gas and green power while accelerating the phaseout of fossil fuels from the energy system worldwide and adopting a circular carbon economy. TES is currently developing energy supply and import terminal locations in Germany, Belgium, France, The Netherlands, and the United States to provide an integrated network of a significant global scale. Initial production and export terminal locations are being developed in the Middle East and North America.

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