Excelerate to deploy FSRU to Germany
Texas-based Excelerate Energy said September 1 it had signed a term sheet with French multinational utility ENGIE to deploy a floating regasification and storage unit (FSRU) to Germany.
Excelerate will deploy the FSRU from its integrated fleet to provide 5bn m3/year of regasification services for five years at Germany’s fifth planned LNG import terminal at Wilhelmshaven, under development by ENGIE and Tree Energy Services (TES).
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On the heels of the deployment of its FSRU Exemplar to Finland earlier this summer, the latest deployment will significantly increase Excelerate’s presence in the European market, which is trying to wean itself from reliance on Russian gas supplies.
“This term sheet represents an important milestone in our commercial negotiations to support the development of a new FSRU import terminal in Germany,” said Oliver Simpson, commercial vice president at Excelerate.