Uniper books extra LNG capacity at Gate terminal
Germany’s energy company Uniper will book additional LNG capacity at Gate terminal, a joint venture of Vopak and Gasunie, by 1 billion cubic meters per year for three years.
Gate terminal, in operation since 2011, is a 50/50 joint-venture between Gasunie and Vopak. Its initial capacity of 12 billion cubic meters per year (bcma) can in the future go up to 16 bcma. Gate terminal also offers a portfolio of other services; including back-loading services for LNG vessels, ranging from small bunker vessels to large LNG carriers.
As of 1 October 2022, Uniper will increase its capacity rights at Gate by 1 bcma for three years. This deal complements the announcement from last year.
Then, Uniper and Gate committed to a capacity increase of 1 bcma starting 1 October 2024.
Both above-mentioned transactions supplement the existing capacity of 3 bcma that Uniper holds since the start of the Gate terminal.
Uniper CCO Niek den Hollander said: “In these challenging times Uniper continues to broaden the access of its global LNG portfolio into NW Europe to fortify the security of supply for Germany and the Netherlands.”
Gate managing Director Wim Groenendijk added: “This transaction is a prime example of close German-Dutch cooperation with concrete action in times of emergency. We will continue to explore on a daily basis how to best help our customers and society in serving the LNG and gas markets. The LNG arriving at Gate terminal is of great importance for the gas supply of the Netherlands and the whole of Northwest Europe.”
Uniper’s European regasification capacity includes bookings at Isle of Grain with 1.7 bcma, Gate with up to 5 bcma, and market access in Spain. In 2021, Uniper traded more than 350 LNG cargoes worldwide and operated seven LNG carriers.