Enagás has bought the Belgian gas operator, Fluxys, 10% of the capital of the German Hanseatic Energy Hub (HEH) in a project with which the Spanish gas network operator will become the operator of the Stade terminal, in Germany , one of the largest regasification plants in the country with a capacity of 13.3 bcm, equivalent to 40% of gas consumption in Spain. The plant is also one of the main commitments of the Hanseatic group to operate with green hydrogen and green ammonia in the future.
With this operation, the closing of which is subject to obtaining the necessary permits, Enagás joins the consortium formed by the founding shareholder, the Buss Group —based in Hamburg—, Partners Group and the industrial partner Dow as an industrial partner.
For its part, Fluxys, the previous minority shareholder, will sell its shares due to a strategic reorientation. “The parties have agreed not to reveal the exact terms of the agreements until the final investment decision is made, scheduled for 2023,” the Spanish company reported on Thursday.
Johann Killinger, the General Director of HEH and owner of the Buss Group, explained in a statement that the new terminal’s short-term objective is to reinforce the supply of LNG for Germany before the closure of the gas supply through the tubes connected with Russia. But in addition, this new infrastructure is focused on accelerating the growth of the hydrogen market. “Enagás shares our vision and also contributes its extensive technical knowledge to help us make it a reality quickly and reliably,” Killinger said.
Arturo Gonzalo, CEO of Enagás, has pointed out that “this agreement is a key milestone in helping to achieve the European objectives of security of supply and decarbonisation, and it fits perfectly into the company’s Strategic Plan. Enagás will contribute its experience for the development of an infrastructure prepared for hydrogen that will be essential for Germanyâ€.
In a first phase, from the end of 2023 until the commissioning of the land terminal, HEH will also be the site of one of the five Floating Storage and Regasification Units (FSRUs) chartered by the German Government. .
In the second phase, from 2027, from this terminal it will be possible to import LNG and renewable energy sources such as bioLNG and synthetic natural gas (SNG). The planned regasification capacity is 13.3 bcm per year. The terminal, the port, the industrial park and the connection infrastructures are designed for the use of ammonia in the future.
“The Hanseatic Energy Hub is a key link in moving towards the energy transition, which is an investment factor we are considering. We expect to make the final investment decision in Hanseatic Energy Hub throughout 2023. Enagás’ firm commitment as an industrial partner and shareholder of this consortium demonstrates the maturity and solidity of our project”, declared David Daum, General Director of Infrastructures Private from Partners Group.
The volume of investment planned by HEH for the terminal is around 1,000 million euros. In April, Hanseatic Energy Hub commissioned a consortium led by Técnicas Reunidas, an international EPC specialist, to develop the land terminal, subject to the final investment decision. Other members of the consortium are the FCC Group and Entrade GmbH.
Hanseatic Energy Hub has already contracted 10 bcm/yr of LNG capacity on a long-term basis, with key companies such as Enbw and SEFE. Likewise, a market test process will be carried out to assess eventual demand and build a small ammonia tank before converting the large tanks.
The aim of the project is to develop a flexible modular system for the transition to green energy at the Stade industrial park, where Dow already produces hydrogen on a large scale. This location also offers the possibility of creating synergies with the chemical, logistics and energy sectors.
