GERMANY ADVANCES ON ITS LNG PROJECTS TO REDUCE DEPENDENCE ON RUSSIAN GAS
FRANKFURT (Reuters) – Germany took a further step on Saturday to reduce its dependence on Russian energy supplies by unveiling a planned liquefied natural gas (LNG) import terminal, a further sign of a change in energy policy after Moscow’s invasion of Ukraine.
German state-owned bank KfW has signed a memorandum of understanding with German energy company RWE and Dutch grid operator Gasunie to build the terminal in the port city of Brunsbüttel, the economy ministry said.
Germany signaled a reversal in its main energy policies last week, raising the possibility of extending the life of coal-fired and even nuclear power plants to reduce its dependence on Russian gas.
This turnaround involves the construction of two liquefied natural gas (LNG) terminals, in Brunsbüttel and Wilhelmshaven, in northern Germany, and the increase in its natural gas reserves.
Germany, which is heavily dependent on Russia for gas and oil, currently has no LNG import terminals.
The amount of the investments has not been communicated, but according to estimates, the construction of a terminal at Brunsbüttel should cost around 450 million euros.
The Economy Ministry said the terminal will have an annual capacity of 8 billion cubic meters and will be built as quickly as possible.
(Report Christoph Steitz, French version Matthieu Protard)