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Abu Dhabi National Oil Co. made the first LNG delivery from the Middle East to Germany, with the UAE’s national oil company calling it a “milestone.”
The delivery of 137,000 cu m of LNG is the commissioning cargo for the Elbehafen floating LNG terminal in Brunsbüttel, ADNOC and utility RWE said Feb. 15. RWE was tasked with implementing the Brunsbuttel FSRU project on behalf of the German government. The gas was produced by ADNOC Gas at Das Island, off the coast of Abu Dhabi. An RWE spokesman said earlier this week that first gas send-out from the FSRU into the German gas grid is expected to take place by the end of February.
“ADNOC Gas stands ready to provide further shipments of this key transition fuel to our partner, RWE and German industry,” ADNOC Gas acting CEO Ahmed Alebri said in the statement. Brunsbuttel is the third FSRU to begin operations in Germany after the startup of the Wilhelmshaven facility in December and the Lubmin unit in early January.
Germany’s economy ministry has said it expects the country to have 37 Bcm/year of LNG import capacity available in 2024. German efforts to develop a suite of LNG import terminals intensified after Russia’s invasion of Ukraine in February 2022 and subsequent curtailments of Russian gas supplies to Germany.
Gas supply security has been one of Germany’s top political priorities, with the government rushing to fill storage stocks as well as secure LNG import infrastructure last summer despite record high gas prices.
Platts, part of S&P Global Commodity Insights, assessed the benchmark Dutch TTF month-ahead price at an all-time high of Eur319.98/MWh on Aug. 26.
Prices have weakened since then on the back of healthy storage and demand curtailments, with Platts assessing the TTF month-ahead price on Feb. 14 at Eur52.80/MWh.
