Hanseatic Energy Hub GmbH (HEH) has chosen the Spanish transmission system operator Enagás as its industrial partner for the operation of its LNG terminal at the Stade industrial park in Germany.
Enagás is also set to take a 10% stake in the venture.
In a statement sent to Bunkerspot yesterday (1 June), HEH said Enagás will join the existing project consortium consisting of the founding shareholder, the Hamburg-based Buss Group, the Partners Group (on behalf of its customers) and the industrial partner Dow. The previous minority shareholder Fluxys will sell its shares due to a strategic refocusing. The parties have agreed not to disclose the exact terms of the agreements until the final investment decision is taken throughout 2023.
Johann Killinger, HEH Managing Director and owner of Buss Group, commented: ‘With the Hanseatic Energy Hub in the Hamburg metropolitan region, we are developing an import terminal that will secure Germany's supply of LNG and green gases and at the same time prepare for the market ramp-up of hydrogen.
‘Enagás not only shares our vision, but also contributes with comprehensive technical expertise to help us make it a reality quickly and reliably.’
Arturo Gonzalo, CEO of Enagás, added: ‘This new agreement is an important milestone in meeting the European objectives of security of supply and decarbonisation, and a relevant step forward in the company's compliance with its Strategic Plan. Enagás will contribute with its experience in the development of a hydrogen ready infrastructure that will be key for Germany.’
In the first phase of the project, from the end of 2023 until the land-based terminal goes into operation, HEH will also be the site of one of the five floating storage and regasification nits (FSRU) chartered by the German government.
HEH anticipates that LNG and green energy sources such as bio-LNG and synthetic natural gas (SNG) can be imported via the emission-free terminal from 2027.
At the same time, the terminal, port, industrial park and connection infrastructure are being designed in such a way that a conversion to ammonia as a hydrogen-based energy source can take place in ‘a modular fashion’.
David Daum, Managing Director Private Infrastructure, Partners Group, commented: ‘The Hanseatic Energy Hub is a key link in aiding the energy transition, a key investment theme we are following. We are targeting a final investment decision for the Hanseatic Energy Hub throughout 2023. The clear commitment of Enagás as industrial partner and co-shareholder demonstrates the maturity and strong foundation of our project.’