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Location: Germany (Western Europe)
Type of project: LNG receiving terminal / Hub / Bunkering
Assumed initial capacity: from 3.000.000 to 6.000.000 metric tons of LNG per year
Estimated CAPEX: USD 600 MM (depending on configuration)
Estimated investment requirement for development: USD 35 MM
Estimated time from DTP to RFO: 40-48 months
The German LNG Terminal Concept (GLTC) has been on the books for years. Germany is the only big economy with access to the North Western European coastline without its own LNG terminal. Although there were rumors for a terminal concept for decades now, it has never materialized.
North Western Europe is unique to the gas and especially the LNG world as it rapidly turns into the only market that can offer flexibility to the oversupplied LNG world. This means that any terminal that is rightly configured in the area would be able to offer commercial services to LNG that no other terminal on earth can offer. GLTC would be one of those and hence would be immensely important to the LNG industry and especially LNG trade. It is to be expected that terminals that need flexibility would come and buy it from the GLTC.
After a successful startup, GLTC would also run a study to expand into other areas of business such as bunkering, truck & rail loading and vehicle fueling in order to exploit the current drive for cleaner fuels worldwide. This is, however, not in the scope of phase one of the project.
GLTC will open Germany to the LNG world and hence to new, flexible gas supply in order to reduce dependence on pipeline gas suppliers and it would also allow german companies to develop innovative new ways to support LNG trading. Depending on regulatory obligations, the terminal shall be open to Third Party customers.
CUSTOMERS, MARKETS & BUSINESS MODEL
GLTC would be a very sophisticated terminal in terms of flexibilities it can offer and last minute cargo handling capabilities. The terminal would act as an overflow protection for the LNG market allowing portfolio users to buy capacity as a hedge against defaulting on certain trades.
It would also be an important bulk breaking point allowing bunker ships to top up LNG and serve as a staging point for satellite terminals around the Danish peninsula.
Lastly, the terminal would be a classical supply option for customers in Germany and the preferred access point for LNG to Central Europe.
TIMELINE, FINANCIAL REQUIREMENTS, AND MILESTONES
There are two suitable locations for an LNG terminal on the german shoreline before the Danish peninsula. Both of them have been worked to a certain degree and assuming funding, the promoters could quickly strike a package with at least one of them. Permitting is in an advanced state but virtually all of the engineering and the commercial modeling would have to be run from the scratch.
At one of the sites, there is also a suitable heat source that needs the cold from the plant for their processes which assures great synergies. The challenges are well understood and assuming a solid commitment from a potential investor, this project could be put into existence very fast.
A business plan can be developed in a few months after which direct pilot client acquisition can start at once.
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