Germany’s government will take delivery of a fifth floating storage regasification unit (FSRU) in a bid to strengthen its energy security and reduce reliance upon Russian natural gas.
Having signed a term sheet, Excelerate and ENGIE will work alongside E.ON and Germany to support development of a new FSRU import terminal.
According to the agreement, Excelerate would deploy an FSRU from its fleet to be used over five years at the planned terminal, which is being developed by Tree Energy Solutions (TES) and ENGIE at the port of Wilhelmshaven.
“This term sheet represents an important milestone in our commercial negotiations to support the development of a new FSRU import terminal in Germany,” said Oliver Simpson, Commercial Vice President, Excelerate.
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