TotalEnergies has announced the completion of the Deutsche Ostsee liquified natural gas (LNG) import facility at Lubmin, Germany.
The French company provided a floating storage and regasification unit (FRSU), and LNG to this project, according to a statement. As a result, the company will become one of Germany’s primary LNG suppliers.
Go deeper with GlobalData
German Federal Chancellor Olaf Scholz will attend the site’s opening tomorrow. The site is operated by Deutsche ReGas, an energy supplier in Lubmin, located near Lubmin on the German Baltic Sea coast. TotalEnergies delivered the Neptune, one of the company’s two floating storage and regasification units, to Deutsche ReGas in December 2022.
The vessel can regasify 5 billion cubic metres of gas annually to provide around 5% of German demand. TotalEnergies received contracts for a regasification capacity of 2.6 billion cubic metres of gas per year in October 2022. The company will deliver LNG to the Lubmin terminal.
Stéphane Michel, president of gas, renewables & power at TotalEnergies, said: “Europe is facing a historic gas supply crisis caused by the sharp drop in flows from Russia. Since the beginning of this crisis, TotalEnergies has sent available LNG to Europe to use its 18 Mt/y regasification capacity.TotalEnergies will be able to increase its imports to Europe to over 20 Mt/y, or about 15% of the continent’s regasification capacity.”
Germany has leased four floating storage and regasification units to import LNG and replace Russian supplies. German utilities have supply agreements with Qatar, Australia, and the United States, according to the World Economic Forum.The five import terminals built by the German government will cost $6.7bn over the next 10 to 15 years. According to official estimates, they can supply around one-third of Germany’s current gas consumption once operational.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
