|EC approves JV to develop LNG terminal in northern Germany|
|Feasibility study being conducted to build LNG facility in Brunsbuttel.
|Updated on 13 Jul 2017 07:41 GMT
|Gasunie LNG Holding B.V., Oiltanking GmbH, and Vopak LNG Holding B.V. have acquired the approval under the European Commission's EU Merger Regulation to establish a joint venture for owning and operating a liquefied natural gas (LNG) terminal in Germany.
The three companies are jointly investigating the possibility of constructing and operating a multi-service LNG terminal in the north of Germany which would offer import and small-scale services. The location under investigation is Brunsbuttel - along the Elbe river and close to the city of Hamburg.
The feasibility study consists of economic, technical, nautical and regulatory assessments as well as permit procedures.
"This positive decision of the European Commission is an important milestone in developing [an] LNG facility in Northern Germany," the companies said in a statement.
Following EC approval, the three parties said they were now "ready to jointly work towards the next development phases", whilst stressing that "no financial investment decisions have been taken yet".