The Dutch Gate liquefied natural gas (LNG) terminal (Gate) is set to receive funding by international energy company Uniper as part of its strategy to expand its LNG regas capacity by an additional 1.0 billion cubic metres (bcm).
The investment follows previous announcements that the Gate’s capacity will increase by 0.5bcm per year, resulting in a total capacity of 13.5 bcm per year.
Commenting on the expansion, Andreas Gemballa, Director LNG, Uniper, said, “LNG trading activities have grown significantly from less than 30 cargoes in 2017 to more than 300 to date this year.”
He added that 80% of its cargoes have been traded in the Pacific Basin, reflecting recent news that LNG demand is higher in Asia.
The strength of the industry has contributed to Uniper’s growing LNG commodity portfolio.
Taking it as a ‘vote of confidence’ that Uniper has committed to additional capacity, Wim Groenendijk, Managing Director, Gate, stated that the company looks forward to their continued cooperation.