VTTI Plans to Build New Floating LNG Platform in Netherlands by 2024
(Reuters) — Dutch energy company VTTI said on Monday it plans to build a new floating LNG terminal in the Netherlands with capacity to import 5 billion cubic meters of gas annually.
On Friday the Dutch government said it was in talks with two different groups over new LNG terminals to increase Dutch import capacity by 5-8 billion cubic meters (Bcm) annually as it seeks to ensure the country's energy security.
Rotterdam-based VTTI said in a statement it was "striving" to have the installation operational by early 2024 and a company spokesperson said it was looking at two possible sites in the province of Zeeland.
"The Netherlands needs additional LNG import capacity in the short term to enhance energy supply security," CEO Guy Moeyens said in a statement.
"We are pleased to contribute."
VTTI is owned by Vitol Group, IFM Investors and Abu Dhabi National Oil Company, according to its website.
The Dutch government said on Friday that it could provide support for new LNG terminal projects.
"To realize these projects in the near future the government may need to support them by giving guarantees," Energy Minister Rob Jetten said in a letter to parliament.
Earlier on Monday, grid operator Gasunie said it was looking at developing a floating LNG facility in the port of Terneuzen but did not specify the size.
Spokespersons for Gasunie and VTTI confirmed their projects are separate.
The Dutch government earlier this year added an 8 Bcm capacity floating LNG terminal in the northern port of Eemshaven.
It is now expanding that facility to 9-10 Bcm.
And Rotterdam's Gate Terminal is expanding its LNG capacity to 20 Bcm by 2026 from 16 Bcm at present.
Related News
Related News
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Texas Oil Company Challenges $250 Million Insurance Collateral Demand for Pipeline, Offshore Operations
Comments