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Gasunie, Oiltanking and Vopak receive approval to form JV for developing LNG terminal in Germany

Published 13 July 2017

Gasunie, Oiltanking and Vopak have received green signal from the European Commission to form a joint venture for the development of a liquefied natural gas (LNG) terminal in Northern Germany.

The companies are currently conducting a feasibility study for the construction and operation of a multiservice LNG terminal (including import and small scale services).

The feasibility study includes economic, technical, nautical and regulatory assessments as well as permit procedures. For the location of the terminal, the three companies are investigating Brunsbüttel along the Elbe River which is close to the city of Hamburg.

With EC’s approval now in place, the three companies will start working towards the next development phases. Presently, financial investment decisions have not been taken by the companies.

Nederlandse Gasunie is a gas infrastructure company that provides services such as transport of natural gas and green gas through its subsidiaries Gasunie Transport Services in the Netherlands and in Germany.

Oiltanking is a subsidiary of Marquard & Bahls, which is a Hamburg-based privately owned company. The company operates in the fields of energy supply, trading and logistics. Oiltanking claims to be one of the largest independent tank storage providers for petroleum products, chemicals and gases around the world, owning 79 terminals across 24 countries in Europe, North and South America, the Middle East, Asia and Africa.

Royal Vopak is a independent tank storage company, which operates a wide network of terminals across the world at strategic locations. The company claims to offer efficient, safe and clean storage and handling of bulk liquid products and gases for its customers. Vopak delivers products ranging from oils, chemicals, gases, LNG, biofuels and vegoils.