Enagas SA (EG4.BE)

German Stade LNG hub agrees on land-based terminal from 2027

Backers of the LNG terminal in Germany's Elbe river port of Stade have taken a final decision to build a land-based terminal from 2027, costing around 1 billion euros ($1.1 billion), project firm Hanseatic Energy Hub (HEH) said on Thursday. The move is significant as part of Germany's long-term quest to increase LNG import capacity, which is later to be expressly used for green gases since Moscow's invasion of Ukraine in February 2022 forced it to find alternatives to Russian gas. "Following the successful completion of marketing and approval at the end of 2023, the privately organised consortium, consisting of Partners Group, Enagas, Dow and the Buss Group, have now successfully secured the financing," HEH said in a statement.