Deutsche ReGas, the developer of the FSRU-based LNG terminal in the German port of Lubmin, said that firms showed interest to book 15.2 billion cubic meters of capacity at the facility following an open season.
The German firm led by Ingo Wagner and Stephan Knabe launched the binding open season for long-term capacity allocation for the first 4.5 bcm phase, expected to start in December this year, on October 10.
It also kicked off a non-binding open season on the same date for the second phase of the development which includes an additional FSRU and this capacity would be available from December 2023.
Deutsche ReGas completed both of the procedures on October 21, according to a statement issued on Friday.
Significantly oversubscribed
Deutsche ReGas said that firms booked 3.6 bcm of capacities with terms of five to ten years under the binding open season for the first phase of the project.
The binding season in total attracted requests for 7.1 bcm of capacity, the firm said.
For the second project phase, the bids were non-binding and with a term of ten years. This non-binding open season attracted a total of 8.1 bcm capacity requests, Deutsche ReGas said.
Knabe said in a statement that the available annual regasification capacity for long-term bookings of 11.7 billion cubic meters was significantly oversubscribed at 15.2 bcm.
“This means that our LNG terminal will be fully subscribed from December 2022 and will make an important contribution to the supply of Germany with natural gas,” he said.
Besides the capacity bookings, Deutsche ReGas said in a separate statement that the environment ministry of the state of Mecklenburg-Western Pomerania confirmed that all required documents have been submitted.
The document has about 1000 pages and this confirmation means that the permitting procedure can start, according to Deutsche ReGas.
First private German LNG terminal
Germany currently has no regasification facilities but it should start importing LNG later this year via the Uniper-led Wilhelmshaven LNG terminal and RWE’s Elbhafen LNG terminal in Brunsbuettel, as well as this first private German FSRU-based facility in Lubmin.
Germany backed the charters of five FSRUs, two from Hoegh LNG, two from Dynagas, and one from Excelerate Energy.
In July, Deutsche ReGas revealed it signed a term sheet with French energy giant TotalEnergies under which the latter would provide an FSRU for the project.
The firm also welcomed Macquarie Capital, the investment arm of Australia-based Macquarie Group, as a minority shareholder in the company.
In addition to the investment, Macquarie Capital’s unit WaveCrest Energy would provide technical and operational support for the project in Lubmin’s industrial port, Deutsche ReGas previously said.