Deutsche ReGas to kick off open season for Lubmin FSRU terminal, gets new investor

Deutsche ReGas, the developer of the FSRU-based LNG terminal in the German port of Lubmin, plans to launch a binding open season for the first phase of the development in October.

The German firm led by Ingo Wagner and Stephan Knabe recently announced the start of the construction on the first private German FSRU-based facility.

In July, the firm revealed it signed a term sheet with French energy giant TotalEnergies under which the latter would provide an FSRU for the project.

It also recently submitted an application to Germany’s Federal Network Agency for an exemption from regulation.

Deutsche ReGas expects the Lubmin facility or Deutsche Ostsee to start delivering about 4.5 billion cubic meters per year from December 1 as part of the first phase of the project.

The firm said in a statement on Tuesday it would launch the binding open season for capacity allocation for the first phase on October 10.

Deutsche ReGas also plans to kick of 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.

The project’s capacity would total 13.5 bcm from the fourth quarter of 2024, according to the LNG terminal developer.

Both of the open seasons would last for ten days, Deutsche ReGas said.

Macquarie Capital joins the LNG import development

Deutsche ReGas said in a separate statement that Macquarie Capital, the investment arm of Australia-based Macquarie Group, is taking a minority stake in the company.

The LNG terminal developer did not provide any additional details regarding the investment.

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 said.

Macquarie Capital launched Wavecrest Energy in February last year to develop, construct, own and operate LNG regasification, power, and downstream infrastructure assets.

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