Germany – Germany plans to invest up to €3 billion in floating LNG terminals over the next decade, according to the Finance Ministry.
In light of recent developments with Germany’s current gas supply partner, Russia, the goal of the investment was to lease four floating LNG terminals to allow for gas imports. Germany is under enormous pressure to cut its ties with Russian gas as a result of Russia’s invasion of neighboring Ukraine. By the middle of 2024, Berlin hopes to be free of Russian energy imports.
The government is currently determining the best locations for the terminals. Wilhelmshaven, Brunsbüttel, and Rostock are among the ports being considered in the region.
According to a “Progress Report on Energy Security” published by the Finance Ministry in March, the government has already signed options with RWE and Uniper for three floating terminals. The Finance Ministry’s letter calls for a fourth.