Germany’s Hanseatic Energy Hub, the developer of the Stade LNG import terminal near Hamburg, has appointed Axel Zwanzig as its chief financial officer.
HEH said in a statement on Wednesday that Zwanzig will step up as a member of the management board of Germany’s first land-based and privately funded LNG terminal in Stade.
Zwanzig is joining HEH from Advario, a Dutch player in the storage of chemicals, gases, fuels, and new energy products.
“As an experienced manager in the energy sector, Axel Zwanzig will provide his extensive expertise in finance and risk management to further structure the company ensuring the long-term success of the project”, said Jan Themlitz, CEO of HEH.
In March, HEH’s shareholders Partners Group, Enagas, Dow, and Buss Group took a positive final investment decision on the project.
After that, HEH officially started building its Stade LNG import terminal near Hamburg worth about 1 billion euros ($1.05 billion) in June and expects to launch it in 2027.
HEH awarded the engineering, procurement, and construction deal for its Stade LNG import terminal to a consortium led by Spain’s Tecnicas Reunidas and its partners, FCC and Enka.
The LNG terminal will have a total capacity of 13.3 billion cubic meters of natural gas per year.
Besides the two German energy firms EnBW and SEFE, which have respectively booked annual capacities of 6 and 4 bcm at the terminal, the Czech energy company ČEZ has also secured long-term import rights for 2 bcm.
German LNG terminals
HEH says this is Germany’s first onshore LNG terminal.
Gasunie and RWE recently also took the final investment decision on the German government-backed onshore LNG import terminal in Brunsbüttel.
Germany currently hosts three operational FSRU-based LNG import terminals and will have two more from next year.
This includes DET’s third LNG import facility in Stade which features the 174,000-cbm FSRU Energos Force.
Once the onshore LNG terminal enters into service, the FSRU, chartered by Germany’s federal government, will set sail from Stade.