The purchase and maintenance of floating LNG (FLNG) terminals to help Germany secure energy supplies and diversify away from Russian gas, will cost more than 3 billion euros (US$3.1 billion) more than planned, the economy ministry said on Nov. 20.
Overall, the costs are estimated at about 6.56 billion euros, the ministry said, confirming a report in Der Spiegel. That compares with 2.94 billion euros estimated in the country’s 2022 budget.
“Further costs have been determined in extensive consultations with numerous stakeholders and initial forecasts have been specified,” said the ministry on Nov. 20, citing operating costs and additional infrastructure on land.
The ministry said the FLNG terminals were essential for Europe’s biggest economy to compensate for a collapse in deliveries of Russian gas since Moscow’s invasion of Ukraine.
Germany this month completed the construction of its first floating terminal for LNG at the North Sea port of Wilhelmshaven.
The parliamentary budget committee has already approved the additional money required for the terminals.
(US$1 = 0.9686 euros)
Recommended Reading
Phillips 66 Sells Stake in Gulf Coast Express for $865MM
2024-12-16 - After the sale, the ownership of the line will be split between affiliates of ArcLight Capital Partners and subsidiaries of Kinder Morgan, which owns the operating interest in the pipeline.
Investment Firm Aethon Explores Options for $10B US Natgas Assets, Sources Say
2024-11-13 - U.S. energy-focused investment firm Aethon Energy Management is exploring options for its natural gas production and midstream assets that include a sale or an initial public offering at a valuation of about $10 billion, including debt, people familiar with the matter said on Nov. 12.
ONEOK’s Acquisitions Pay Off with Increased Earnings
2024-10-31 - ONEOK Inc. also announced the completion of its $2.6 billion Medallion Midstream deal.
Energy Transfer’s Lake Charles LNG Closer to FID with Chevron Deal
2024-12-19 - Energy Transfer entered a 20-year agreement to supply Chevron with 2 mtpa of LNG from its Lake Charles LNG export facility, which is awaiting a final investment decision.
Chevron’s Texas Haynesville May Fetch $1B from Tokyo Gas—Report
2024-10-08 - Chevron holds more than 70,000 net acres in Panola County, Texas, but had only five Haynesville wells on the acreage at year-end 2023.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.