PoliticsLNG terminals are much more expensive than planned

LNG terminals are much more expensive than planned

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LNG terminals are in the starting blocks and are the “central building block” for energy security, according to Economy Minister Habeck. But they cost much more than planned.


The purchase and maintenance of floating liquefied natural gas (LNG) terminals cost Germany at least three and a half billion euros more than previously planned.

The total budget requirement has risen to around 6.56 billion euros in 2022, as the Federal Ministry of Economy confirmed in Berlin on Monday. There will also be additional budgetary funds in 2023.

Financing of energy security projects

“This increase was necessary in a second phase because of the dynamically evolving situation,” he said.

Meanwhile, other costs were identified in extensive consultations with a large number of stakeholders and initially estimated costs were determined.

Communiqué of the Federal Ministry of Economy

The additional costs served “directly to finance projects necessary for Germany’s energy security for the coming winter.” “Spiegel” had made the news before.

Economy Minister Robert Habeck (Greens) said on Monday there are more projects in Berlin about the rise in costs. Parts of the infrastructure are also included. Some of these higher costs are offset by wages as income.

First landing terminals will be online

When replacing Russian pipeline gas, Germany relies, among other things, on liquefied natural gas delivered by ship and is building several terminals for import. Germany currently does not have its own landing terminals, the first of which will soon be operational. The first pier was opened in Wilhelmshaven in November and the terminal is scheduled to be connected to the gas grid in December.

Habeck spoke of “a central building block for securing our energy supply for the coming winter.” Politicians and planners have stepped up the pace so that natural gas can be imported by ship as soon as possible via the North Sea and Baltic Sea coasts.

[Gasspeicher und Gasverbrauch: Wie es um unsere Gasversorgung steht]

738 million euros for KfW participation

According to the information obtained, the budget committee in the Bundestag had approved the additional money for the floating terminals. In the 2022 budget, 2.94 billion euros were originally planned. This affects, for example, operating costs and the costs of additional infrastructure measures on land.

Also, according to the ministry, about 738m euros are planned for the participation of state development bank KfW in the fixed terminal in Brunsbüttel. According to “Spiegel”, documents from the budget committee also show that two of the terminals should be leased for 15 years instead of ten years.

Left-wing budget politician Victor Perli told “Spiegel” that the traffic light coalition had left itself vulnerable to blackmail by not using alternative LNG gas and now had to pay billions more. Green budget politician Sven Christian Kindler said:

In the short term, the gas supply should be secured, but we must be careful not to create any fossil excess capacity in the future. We need more clarity in the budget committee about the costs and risks of LNG projects.

Sven Christian Kindler, Green budget politician

Source: ZDF

Timothy
Timothy
I am Timothy Glover, a professional journalist and content creator. I specialize in writing and editing for news websites, specifically covering politics. I have been working as an author at News Unrolled for the past five years and have built up a reputation for producing quality content that is both informative and engaging.

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