Official go-ahead given for LNG Terminal in the Netherlands

The official go-ahead has been given for the construction of the first LNG (Liquefied Natural Gas) import terminal in the Netherlands, on Maasvlakte in Rotterdam, Ti reported. The terminal will have an initial throughput capacity of 9 billion cubic metres (bcm) per annum and will consist of three storage tanks and one jetty. Each tank will have a capacity of 180,000 cubic metres.

N.V. Nederlandse Gasunie (Gasunie) and Koninklijke Vopak N.V. (Vopak) decided in 2005 to develop the Gate LNG import terminal. Imported LNG will be regasified and stored under pressure at the terminal before it is supplied to the Dutch transmission network.

As an independent LNG terminal, Gate terminal will be an important factor for the European receipt of gas from other countries. The terminal will both increase the security of supplies and enable new players to enter the European gas market.

John Paul Broeders, Vopak's Executive Board Chairman, and Marcel Kramer, Gasunie's CEO, together said: We are very proud that construction of the Gate (Gas Access To Europe) terminal will now go ahead. A modern LNG terminal is essential. This is illustrated by the first long-term contracts signed with three major European energy companies, Dong Energy, EconGas and Essent, for a combined throughput of 9 bcm a year of natural gas. The Gate terminal initiative stands out for its independence, accessibility, excellent location, the priority it gives to safety and the environment and the unique combination of the two strong partners, Gasunie en Vopak.

The total project costs will be about €800 million and the terminal is expected to be fully operational in the second half of 2011. The construction of the Gate terminal will also significantly strengthen Rotterdam's position as an energy port. The port authorities are investing €60 million in the basic infrastructure.

Source: Portnews