Fluxys & Hanseatic Energy Hub’s shareholders partnering in Stade LNG terminal project
Gas infrastructure company Fluxys and shareholders of Hanseatic Energy Hub, developer of the LNG terminal project in Stade near Hamburg, have agreed on Fluxys joining the project as industrial partner. Closing of the agreement is expected upon completion of the default merger clearance procedure with the competent authorities. The entry of Fluxys into the project complements the recent investment into Hanseatic Energy Hub by Partners Group, the leading global private markets firm, on behalf of its clients.
The LNG terminal project would provide the largest gas market in Europe with an additional entry point by complementing an existing industrial cluster in Stade. The facility is to offer substantial send-out capacity of natural gas and unlock LNG as alternative fuel in shipping and heavy duty transport as well. The project is an opportunity for Fluxys to deliver on its growth ambition in Europe by strengthening and diversifying its infrastructure presence in Germany.
The partners’ strategic fit
For Fluxys the project fits tightly with its strategy to contribute to the energy transition. The LNG terminal in Stade can support Germany in its phase-out of nuclear, coal and lignite fired electricity generation by diversifying the country’s natural gas supply routes in a context of increasing import needs.
Manfred Schubert, Partner and Managing Director for Hanseatic Energy Hub states: "We have been on the lookout for a world-class industrial partner to join the development and operate the terminal on a long-term basis, and we found that in Fluxys."
Hanseatic Energy Hub and Fluxys plan to jointly build a near-zero carbon footprint LNG terminal that uses excess heat from local industry for the regasification process. The terminal is envisaged to become an LNG distribution hub by providing logistics via rail, road, small LNG ships and barges, and also by offering bio-LNG to the shipping and heavy-duty transport markets. Last but not least, the terminal’s location in a chemical industry cluster positions it as a key enabler for the development of low carbon gases along the energy transition trajectory.
As an industrial co-investor and designated long-term operator, Fluxys will contribute 30 years of expertise in LNG terminalling covering commercial, technical and operational domains.
Pascal De Buck, Chief Executive Officer of Fluxys, said, "The Stade LNG terminal is set to be a key enabler of Germany’s energy transition by creating an additional energy entry gate for LNG and low carbon gases with clean operations integrated in the Stade industrial cluster. We look forward to joining our partners in the project and are keen to support the terminal’s development with our industrial and commercial expertise."