LNG: Germany to Benefit from Dutch LNG Terminal
As Germany seeks to replace its shuttered nuclear reactors, it appears that the country will likely to become the biggest customer for the Netherlands' first liquefied natural gas (LNG) terminal within two to three years, according to a report on Reuters. The 800 million euro Gas Access to Europe (Gate) terminal in the port of Rotterdam, built by Gasunie and Koninklijke Vopak and due to open in September, was initially seen as a small contributor to help provide a stable gas supply in north-west Europe.
It received an unexpected shot in the arm when Germany decided, following Japan's Fukushima crisis, to immediately close 40 percent of its nuclear capacity and entirely phase out atomic energy by 2022.
The capacity will need to be replaced by 10 gigawatts of new power stations. (Source: Reuters)