Spain’s Enagas buys stake in Germany’s HEH

Spanish LNG terminal operator Enagas has agreed to buy a 10 percent stake in Germany’s Hanseatic Energy Hub, the developer of the planned Stade LNG import terminal near Hamburg.

Besides the stake sale, HEH has chosen the Spanish transmission system operator as its industrial partner for the operation of the LNG terminal at the Stade industrial park, according to a joint statement.

HEH is a consortium consisting of Fluxys, Dow, Partners Group, and Buss Group.

Belgium’s Fluxys will sell its shares due to a “strategic refocusing”, the statement said.

In April, HEH awarded the engineering, procurement and construction deal for its Stade LNG import terminal near Hamburg to a consortium led by Spain’s Tecnicas Reunidas.

The LNG terminal developer said at the time that the deal remains subject to the firm taking a final investment decision on the project worth about 1 billion euros ($1.07 billion).

HEH said in the new statement that it is targeting FID for the terminal with a regasification capacity of 13.3 Bcm per year in 2023 and to begin operations in 2027.

Energy firm EnBW recently doubled its capacity booking to 6 bcm per year at the planned LNG import terminal.

Besides EnBW, Germany’s SEFE plans to import at least 4 bcm per year via the terminal, starting in 2027.

Prior to the launch of the onshore LNG import terminal, Stade will welcome its first FSRU as part of Germany’s plans to boost energy security and replace natural gas pipeline imports from Russia.

HEH expects the completion of the new LNG jetty in Stade by the end of 2023.

In addition to LNG, HEH is also planning to launch a market test for ammonia imports.

Most Popular

Santos seals long-term LNG supply deal with Japan’s Shizuoka Gas

Santos said on Thursday the long-term SPA will supply between 0.35 and 0.4 million tonnes per annum of LNG...

Squadron Energy says Australia’s first LNG import terminal complete

According to Squadron Energy, commissioning of the onshore receiving facility is now underway, which ensures the functionality of all...

Woodside gets environemntal nod for NWS extension project

After six years of assessment and appeals, this is a "critical" step in the approvals process to underpin the...

More News Like This

Spanish LNG imports, reloads decrease in November

LNG imports decreased by 25 percent year-on-year to 17.1 TWh in November and accounted for 61 percent of the...

Germany’s HEH appoints finance chief

Germany’s Hanseatic Energy Hub, the developer of the Stade LNG import terminal near Hamburg, has appointed Axel Zwanzig as...

Spanish LNG imports, reloads down in October

LNG imports decreased by 34.3 percent year-on-year to 21.8 TWh in October and accounted for 55.2 percent of the...

Spain’s Enagas reports net loss due to Tallgrass Energy sale

In July, Enagas closed the stake sale worth $1.1 billion (1.018 billion euros). According to Enagas, the proceeds from this...