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8/16, 1:40 PM (Source: TeleTrader)
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Germany strikes deal with energy giants on LNG terminals

German Economy Minister Robert Habeck (pictured) signed a Memorandum of Understanding on Tuesday, with energy conglomerates Uniper, RWE, and EnBW/VNG on the planned supply of liquefied natural gas (LNG) terminals on the North Sea coast.

Habeck revealed that the country's two LNG gas terminals in Wilhelmshaven and Brunsbuettel will be completely "utilized" by March 2024, as the four companies guarantee the necessary delivery volumes. The terminals are projected to be "utilized" prior to the heating season, the economy minister underscored.

"With the import of LNG, we are making ourselves less dependent on imports of Russian pipeline gas," Habeck said, as concerns over gas prices hit the European markets. The economy minister also stressed during the press conference following the signing of the memorandum, that Berlin remains in negotiations with Qatar on the supply of LNG.

Baha Breaking News (BBN) / AB