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Deutsche Energy Terminal GmbH completes second auction for regasification capacities

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LNG Industry,

The state-owned operating company, Deutsche Energy Terminal GmbH (DET) – responsible for the marketing and operation of the four LNG terminals (FSRU) on the German North Sea coast – has, for the second time, marketed regasification capacities of one of its operated terminals in digital auction rounds.

On a total of two marketing days, on 11 and 14 December 2023, market participants were able to acquire 50% of the total time slots for the use of regasification capacities (short-term capacities) in the period from April – December 2024 at the Stade terminal. Slots were allocated both with and without delivery obligations for market participants.

11 of the total of 15 slots on offer were allocated at prices of €00.55/million Btu each. This means that the majority of the 50% of capacity offered at the terminal in Stade has been secured. The remaining four slots of capacity at this terminal will be awarded at a later date.

“Given that we are experiencing a mild winter so far, are seeing full gas storage levels and most gas traders have already finalised their annual planning in October, we are very satisfied with the result of our auctions for the Stade terminal. The result confirms our assumption that there is a demand for regasification capacities on the German coast despite the current market conditions,” said Dr Peter Röttgen, Managing Director of DET.

It should also be noted that capacities were marketed for a terminal that is currently still under construction. Nevertheless, DET has made a conscious decision to offer all bookable capacities at an early stage in order to ensure planning security for traders.

Further auctions for both short-term and long-term capacity are planned for all four DET terminals in April 2024.

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