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NOVATEK and Fluxys to build LNG terminal in German port

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LNG Industry,


A joint venture (JV) between PAO NOVATEK and Fluxys has signed a land lease agreement with the Rostock Port for the construction of a mid scale LNG transhipment terminal located in the port of Rostock, Germany.

The JV will design, construct, finance, own and operate a mid scale LNG transhipment terminal with a capacity of approximately 300 000 tpy in the port. It will receive LNG carriers from the Cryogas-Vysotsk liquefaction facility, which is located near Saint-Petersburg, and further LNG deliveries to the consumer market will made using trucks.

In the statement, NOVATEK claims that the terminal will also have an option of bunkering and loading bunkering vessels.

Leonid Mikhelson, NOVATEK’s Chairman of the Management Board, said: “One of our LNG strategic initiatives is to develop small to medium tonnage projects to target niche markets and customer segments.

“This approach allows us to build effective marketing channels on different markets. Moreover, the LNG Terminal at Rostock allows us to market LNG as a marine fuel and motor fuel instead of diesel and fuel oil that will contribute to decreasing emissions and improving the environment.”

Read the article online at: https://www.lngindustry.com/lng-shipping/17102018/novatek-and-fluxys-to-build-lng-terminal-in-german-port/

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This article has been tagged under the following:

LNG import news LNG carrier news LNG bunkering news