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Deutsche Energy Terminal GmbH completes first auctions of 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 first time marketed regasification capacities of the terminals it operates in digital auction rounds.

On a total of six marketing days, from 16 – 19 October and on 23 and 26 October 2023, market participants were able to purchase time slots for the use of regasification capacities (short-term capacities) in the period from April – December 2024 at the Brunsbüttel and Wilhelmshaven 1 sites. Both slots with and without delivery obligations were allocated to traders.

All of the 60 slots on offer were awarded at prices between 55 ¢ – 81.2 ¢ /million Btu. This will ensure full capacity utilisation of the two terminals for 2024.

“We are very pleased that we were able to realise the first marketing round under great time pressure and the challenges of the newly established DET. The planning, implementation and marketing of comparable projects would otherwise take several years, and we were able to successfully complete this in a very short time,” said Dr Peter Röttgen, Managing Director of DET.

“Our offer has been well received by shippers and we have established ourselves as a new player in the market. As expected, the fact that all the slots we offered were marketed confirms that there is demand in the gas market. And it is also an important success in terms of the Federal Government's goals for security of supply,” Röttgen added.

With the construction and planned commissioning of two additional FSRU terminals in Stade and Wilhelmshaven 2 in 1Q24, all federally owned DET terminals on the German North Sea coast will be available. Short-term capacity auctions are also planned for these terminals for December 2023. For all four DET terminals, long-term capacity auctions with terms of more than one year are planned for April 2024.

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