German FSRU terminal operator allocates 2024 regas slots

State-owned LNG terminal operator Deutsche Energy Terminal has allocated 60 regasification slots at two of its FSRU-based terminals in Germany.

DET has for the first time marketed regasification capacities of the terminals it operates in digital auction rounds.

On a total of six marketing days, from October 16 to 19 and October 23 and 26 October, market participants were able to book time slots for the use of regasification capacities in the period from April to December 2024 at the Brunsbüttel and Wilhelmshaven 1 sites.

DET said in a statement on Thursday that it has allocated both slots with and without delivery obligations to traders.

“All of the 60 slots on offer were awarded at prices between 55 and 81.2 Euro cents/MMBtu. This will ensure full capacity utilization of the two terminals for 2024,” DET said.

German FSRU terminal operator allocates 60 regas slots for 2024
Image: DET

New player in the market

“We are very pleased that we were able to realize the first marketing round under great time pressure and the challenges of the newly established DET,” said Peter Röttgen, managing director of DET.

Moreover, Röttgen said that DET’s offer had been “well received by shippers and we have established ourselves as a new player in the market.”

“As expected, the fact that all the slots we offered were marketed confirms that there is demand in the gas market,” he said.

DET is planning to commission its facility in Stade and also the second terminal in Wilhelmshaven in Q1 2024.

Also, the firm aims to hold short-term capacity auctions for these terminals in December this year.

DET plans to hold capacity auctions with terms of more than one year for all four facilities in April 2024.

Germany’s Federal Ministry for Economic Affairs and Climate Action established Düsseldorf-based DET in January to manage FSRU-based LNG import terminals.

The German government, helped by Uniper, RWE, and TES chartered in total five FSRUs from Hoegh, Dynagas, and Excelerate Energy.

Also, the government sub-chartered the FSRU Transgas Power, owned by Dynagas, to private firm Deutsche Regas. This FSRU will serve the planned LNG import terminal in the port of Mukran.

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