Germany weighs leasing additional floating LNG terminal -source

BERLIN, April 14 (Reuters) – Germany has signed contracts to lease three floating liquefied natural (LNG) gas terminals and is considering getting a fourth to more quickly reduce dependence on Russia for gas supplies, a government source said.

Germany’s Economy and Climate Protection Ministry last month said it had secured three so-called Floating Storage and Regasification Units (FSRU) via utility companies RWE  and Uniper UN01.DE, adding negotiations were in the final stages. 

“Planning and preparations for negotiations for a fourth FSRU are also under way,” the source said.

Germany plans to spend up to 3 billion euros ($3.25 billion) for the four terminals over the next decade, news agency dpa reported, citing a document by the Finance Ministry.

FSRUs are part of Germany’s strategy to diversify away from Russia, which accounts for most of its gas. The ministry has said that the terminals could start operation as soon as winter 2022/2023.