Deutsche ReGas, German government reach deal on FSRU charter termination

Private firm Deutsche ReGas announced this on Monday, saying that this agreement, with effect from February 2025, “corresponds to the express will of both contracting parties.”

“All open issues arising from the contractual relationship regarding the FSRU Energos Power
have been conclusively settled,” the company said.

Deutsche ReGas said the parties have agreed not to disclose further details of the agreement.

“We have found an amicable and mutually satisfactory out-of-court solution within a very short period of time. We thank the employees involved in the Federal Ministry for Economic Affairs and Energy for the constructive and cooperative solution,” Ingo Wagner, managing shareholder at Deutsche ReGas, said.

The FSRU, which is currently in Egypt to serve a charter deal with Egypt’s EGAS, was previously located at the Deutsche ReGas-operated Mukran LNG terminal.

In February, Deutsche ReGas announced that it had terminated the charter contract for the FSRU Energos Power, one of the two FSRUs operating at the Mukran LNG import terminal, with the German government.

Last month, Germany’s Ministry for Economic Affairs and Energy confirmed to LNG Prime that it had signed a deal with Egypt’s state-owned EGAS to sub-charter this FSRU.

The unit, with a regasification capacity of up to 7.5 bcm per year, is on a ten-year charter deal with the BMWK, which started in 2023.

Energos Infrastructure, a part of US asset manager Apollo, owns this FSRU.

The Mukran LNG terminal currently consists of the 2009-built 145,000-cbm, FSRU Neptune, after Deutsche ReGas terminated the charter contract for Energos Power.

However, Deutsche ReGas plans to reinstall a second FSRU at the facility.