Germany’s DET allocates Stade regas slots as FSRU terminal launch nears

State-owned LNG terminal operator Deutsche Energy Terminal has allocated 11 regasification slots at its FSRU-based LNG import terminal in Germany’s Stade as it works to launch the facility in February next year.

DET held capacity auctions on December 11 and 14 for in total 15 regasification slots.

This is the second time DET marketed regasification capacities for its FSRU-based terminals in digital auction rounds after auctions for the Brunsbüttel and Wilhelmshaven 1 sites.

DET said in a statement that market participants were able to acquire 50 percent of the total slots for the use of short-term regasification capacities in the period from April to December 2024 at the Stade terminal.

Slots were allocated both with and without delivery obligations for market participants.

DET said 11 of the total of 15 slots on offer were allocated at prices of 55 euro cents/MMBtu each.

The remaining four slots of capacity at this terminal will be awarded at a “later date”, it said.

Germany's DET allocates Stade regas slots as FSRU terminal launch nears
Image: DET

DET “very satisfied” with auctions

“Given that we are experiencing a mild winter so far, are seeing full gas storage levels and most gas traders have already finalized their annual planning in October, we are very satisfied with the result of our auctions for the Stade terminal,” Peter Röttgen, managing director of DET, said.

He said that the result confirms DET’s assumption that there is a demand for regasification capacities on the German coast despite the current market conditions.

“It should also be noted that capacities were marketed for a terminal that is currently still under construction. Nevertheless, DET has made a conscious decision to offer all bookable capacities at an early stage in order to ensure planning security for traders,” Röttgen said.

Further auctions for both short-term and long-term capacity are planned for all four DET FSRU-based terminals in April 2024.

German FSRUs

The 174,000-cbm FSRU Transgas Force, owned by Dynagas, recently left Germany’s Bremerhaven and now works as an LNG carrier until mid-February when it is expected to be deployed in Stade.

Germany's DET allocates Stade regas slots as FSRU terminal launch nears
Image: Ports of Bremen and Bremerhaven

German port firm Niedersachsen Ports (NPorts) also just completed the new LNG jetty in Stade which will welcome the 2021-built FSRU Transgas Force, according to DET.

The Stade FSRU-based LNG terminal will have a capacity of some 6 bcm per year and will be replaced by Hanseatic Energy Hub’s planned onshore LNG import terminal in 2027.

DET is planning to commission both its FSRU-based facilities in Stade and Wilhelmshaven in the first quarter of 2024.

Following the launch of these two facilities, DET will operate in total four FSRU-based LNG terminals as Uniper and RWE already installed Hoegh LNG’s FSRUs Hoegh Esperanza and Hoegh Gannet in Wilhelmshaven and Brunsbüttel.

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

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