Mitsui O.S.K. Lines (MOL) and LNG Terminal Wilhelmshaven (LTW) (a fully owned subsidiary of Uniper) sign a contract to build and charter an LNG FSRU which aimed to be utilized for the LTW-planned Wilhelmshaven floating LNG imports terminal in Germany on the North Sea.
The 263,000-CM FSRU will be built in Daewoo Shipbuilding Marine Engineering Co. (DSME)’s shipyard in Geoje, S. Korea and then chartered by LTW for 20 years. “It has been planned and custom designed by the two contracting parties in accordance with the local and environmental requirements for the German market and the Wilhelmshaven site.”
The LNG terminal in Wilhelmshaven is a long-term project based on the prediction that demand for imported natural gas on the German and European energy markets will increase significantly over the coming years, Uniper said in a statement, adding that based on its “many years of experience in the European gas business and project management, LTW is pushing ahead with the terminal project in Wilhelmshaven to give companies from all over the world optimal access to customers in Europe and, vice versa, to open up a new supply channel for customers.”
Uniper has remarked that Wilhelmshaven is Germany's only deep-sea port and has the optimal infrastructure for offloading LNG tankers of all sizes which offers a significant economic advantage over other ports. “Its proximity to the German long-distance gas pipe network and to important gas storage facilities makes integrating the system into the gas infrastructure comparatively simple and cost-effective.”
It is expected that a tender process will be carried out in summer to assess the binding interest expressed by potential customers. Once the approval process for the project is completed, the final investment decision will be made subject to economic viability, Uniper said, reminding that despite more LNG terminals being built in Europe in recent years, the significant decline of domestic natural gas production in Europe makes further expansion both a sensible and necessary course of action for the gas industry.

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Backgrounds:

On 17 Dec. 2018, Uniper and MOL announced that they have reached an agreement to continue and intensify their efforts to implement an FSRU project at Uniper’s site in Wilhelmshaven, Germany. (more details)
On 25 Jan. 2019, Uniper announced that it has entered into a heads of agreement (HOA) with ExxonMobil Gas Marketing Europe in respect of a long-term booking of a substantial share of regasification capacity in the Wilhelmshaven FSRU proposed project. (more details)
On 21 May 2019, Uniper announced the beginning of an open season for its Wilhelmshaven LNG import project. “Interested parties will have to submit a written application demonstrating they are already active in the LNG market or are intending to do so. Non-binding Heads of Agreement will be signed before July 19, while binding contracts are scheduled for mid-October.”
On 12 Nov. 2019, Uniper said that it expects the planned Wilhelmshaven FSRU can come on stream in the year 2023 as “there is good demand for the gas and interest from suppliers of sea-borne gas into Germany.”