TES announced the start of the open season to assess market interest for gas import capacity at its Wilhelmshaven green energy hub. The non-binding phase has now concluded, and bi-lateral discussions will commence with all parties that expressed their interest.
The terminal at Wilhelmshaven will be incorporated separately and branded as the AvantHy terminal. It will offer the capacity to import green H2 and green gas over time, as well as the opportunity to support Germany’s energy security of supply by receiving LNG imports before switching to green gas. The planned start-up is in late 2025.
TES offered a terminal capacity with base services of up to 20 Bm3y; however, the company received Expressions of Interest from approximately 25 interested parties for more than twice the offered capacity. The next phase of bi-lateral discussions is expected to be completed during July 2022.
Commenting on the significant market response, Otto Waterlander, Chief Commercial Officer at TES said, “The positive market response to our open season is a reflection of the current challenging market conditions and the strong desire to open a direct route for Germany to alternative imports. Our commercial proposition for conventional liquified natural gas attracted over 25 interested parties. Importantly, over 70% of those, expressed interest in transitioning to green gas imports before 2043. This proves the TES value proposition to scale up green H2-based gas imports for the German market.”
“With our Open Season,” Marco Alverà, Chief Executive Officer at TES said, “we will be able to deliver sustainable and cost-effective energy that will have an immediate impact on Europe’s and Germany’s energy security of supply while reducing emissions and accelerating the transition to green H2. This will greatly help industries continue to operate efficiently and meet their net-zero goals on time. Furthermore, the accelerated development of the Wilhelmshaven Green Energy Hub will generate a positive effect on the overall growth and development of the region, by stimulating the local economy and promoting environmental protection.”
