Stade becomes FSRU site to secure natural gas supply in the short term

• Highly efficient, environmentally friendly operation thanks to industrial waste
  heat from Dow
• Expansion of the port planned by probably the end of 2023
• Land-based terminal as building block for climate change from 2026 onwards

Stade, July 20, 2022 - Stade will be the site of one of the four floating liquefied natural gas terminals - so-called Floating Storage and Regasification Units (FSRU) - chartered by the Federal Government of Germany. This was announced yesterday by the Federal Ministry of Economics and Technology and the Lower Saxony Ministry of the Environment. The vessel is expected to be ready for the import of LNG in the port of the future Hanseatic Energy Hub by the end of 2023. The expansion of the existing industrial port for the land-based terminal, for which NPorts, the Lower Saxony port authority, is responsible, is already in the approval phase and is expected to be completed by the end of 2023. A nautical simulation carried out for this purpose has shown that all the requirements for an FSRU on site are fully met.

The Hanseatic Energy Hub site is located in the existing Stade industrial park with a direct connection to the German gas grid. The FSRU will be connected via a two-kilometer short connecting pipeline. Like the future zero-emission terminal on land, the floating unit can be operated with industrial waste heat from neighboring Dow during the transition period, greatly reducing CO2 emissions.

"FSRUs are important for ensuring the security of gas supply in Germany in the short term. In Stade, we have the infrastructure and the experience with liquefied gases to enable smooth operation. We are happy to provide both," said Johann Killinger, managing director and shareholder Hanseatic Energy Hub. "In parallel, we will be pushing full steam ahead with the expansion of our land-based zero-emission terminal. Because one thing is clear: Germany needs a future-flexible energy infrastructure to drive the transformation of our energy supply sustainably and reliably. The Open Season for the landbased capacity as of 2026 is currently ongoing. Binding bids are expected by 29th July.

Back in May, the German Federal Ministry of Economics and Climate Protection and the Lower Saxony Ministry of the Environment, Energy, Building and Climate Protection had already set out in a letter of intent that Stade would be developed as an LNG and GreenGas import infrastructure in the future. The Hanseatic Energy Hub is designed onshore for LNG and low-carbon energy sources such as bio-LNG and synthetic methane and is expected to meet around 15 percent of Germany's gas demand from 2026 with a total capacity of 13.3 billion cubic meters of natural gas. As global supply grows, the hub will also be ready to import carbon-neutral energy sources, such as ammonia.