Partners Get Nod to Construct LNG Terminal in Germany
- Business & Finance
The European Commission has granted its approval to a joint venture, which will be set up by three companies, to develop a liquefied natural gas (LNG) terminal in Northern Germany.
Gasunie LNG Holding, Oiltanking GmbH and Vopak LNG Holding have acquired the approval under the EU Merger Regulation to establish a joint venture for owning and operating the terminal.
The three companies are jointly investigating the possibilities for the construction of the multi-service LNG terminal, which would include import and small scale services. The location under investigation is Brunsbüttel along the Elbe river close to the city of Hamburg.
The parties are currently conducting the feasibility study, which consists of economic, technical, nautical and regulatory assessments as well as the permits procedures.
Now that the EC approval is in place, the parties are ready to jointly work towards the next development phases. No financial investment decisions have been taken yet.