European Commission approval to develop LNG Terminal in Northern Germany

Gasunie, Oiltanking, and Vopak have acquired the approval under the EU Merger Regulation to establish a joint venture for owning and operating a liquefied natural gas terminal in Northern Germany.

The three companies are jointly investigating the possibilities for constructing and operating a multi-service LNG terminal (including import and small-scale services) in Northern Germany. The location under investigation is Brunsbüttel along the Elbe river close to the city of Hamburg. The feasibility study consists of economic, technical, nautical, and regulatory assessments as well as the permits procedures. Now that the EC approval is in place, the parties are ready to jointly work towards the next development phases according to a joint statement. No financial investment decisions have been taken yet.