Deutsche ReGas, a German LNG import terminal firm, has canceled a floating storage regasification unit (FSRU) citing financial losses due to competition from a state-subsidized company. The company blames Deutsche Energy Terminals (DET) for offering services at lower prices, making it difficult for ReGas to compete. Despite the cancellation, ReGas emphasizes its readiness to address potential supply bottlenecks and maintains communication with the German government on this matter.
Germany ’s Deutsche ReGas, the LNG import terminal firm, has canceled a floating storage regasification unit used for a year, saying it was losing money on the investment, the Maritime Executive reported. The facility in question is a floating regasification unit named Energos Power with a capacity of 174,000 cubic meters daily which was installed at the port of Mukran in February last year.
“DET's ruinous pricing policy since December 2024 is one of several reasons for terminating the sub-charter contract. Deutsche ReGas regrets having to take this step,” Deutsche ReGas managing partner Ingo Wagner said, as quoted by the Maritime Executive. According to the company, LNG import terminals are being underutilized. “We continue to be in close contact with the federal government on this matter.
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