Uniper has facilitated the charter of two FSRUs managed by Dynagas Ltd. to the German government to diversify and strengthen the security of gas supply to Germany.
The FSRUs Transgas Force and Transgas Power, built in 2021, are amongst the most modern, safe and environmentally friendly of their kind with a total natural gas-send-out capacity of up to 7.5 bcm/a and an LNG storage capacity of 174,000 m³ each. The combined capacity is equivalent to approximately 30% of Russian gas imports into Germany. The FSRUs will commence their service early 2023 with first gas send-out depending on the completion of the onshore installations at the sites selected by the German government.
Currently, there are 48 FSRUs in operation worldwide. The technology is safe and proven with many years of operational experience. Deployment of FSRUs allows a fast track development of natural gas import facilities. In Europe, similar installations are already in operation in Lithuania, Italy, Croatia and Turkey with several additional locations around Europe currently under preparation.
Uniper has broad commercial and technical experience in the LNG market, trading 360 cargoes per year. In addition, Uniper has access to regasification terminal capacity at Gate, the Netherlands, Isle of Grain, U.K. and Spain. These capacities allow Uniper already today to diversify supply of natural gas imports.
Uniper CEO, Klaus-Dieter Maubach: “We are glad and proud to be able to support the German government with our experience in the LNG market in these difficult times. Our site in Wilhelmshaven and the Dynagas’ FSRUs will provide an important cornerstone to achieve a greater diversification of natural gas supplies.”
Dynagas Ltd. is an international manager of 18 modern and high specification LNG carriers and FSRU’s on the water with an aggregate capacity of approximately three million cubic meters. Dynagas Ltd. offers comprehensive management services and has extensive experience in constructing and managing LNG carriers and FSRU’s since 2004 with an excellent safety and performance track record with major counterparties. The company’s headquarters are based in Athens, Greece.
Dynagas Ltd. founder & Chairman Mr. George Procopiou: “We are very pleased to conclude this transaction with the German government and Uniper. We have long been advocating for European countries to develop LNG import infrastructure to diversify their sources of supply of natural gas. The installation of the two FSRUs will enable Germany, and the wider European region, to significantly increase their LNG import capabilities in a timely and environmentally friendly manner without any permanent footprint on-shore. We look forward to the FSRUs being installed in Germany and supplying the country with natural gas which, ultimately, will also enable the transition to a lower carbon future.”