Hanseatic Energy Hub is pleased to announce the successful completion of the non-binding phase of the Open Season with confirmed market interest from global players supporting the full planned capacity of the terminal.

Danielle Stoves, Commercial & Regulatory Director of Hanseatic Energy Hub states:

“We designed the non-binding phase of our Open Season to not just secure volume indications, but to truly engage our potential customers and actively work on ensuring that we offer what they need to be successful! I am delighted to see how our customers embraced this process, and this has helped us improve our products and given us a head-start on getting the first version of our Terminal User Agreement drafted.”

This first phase of the Open Season also attracted interest from very large global players that Hanseatic Energy Hub had not previously signed Letters of Intent with. Manfred Schubert, Shareholder and Managing Director of Hanseatic Energy Hub says: “The bids and volume requests we received confirms our proposal to base the development on 12 BCM/a capacity. We continue to move ahead with our technical design and permitting according to schedule.”

Hanseatic Energy Hub will now work closely with potential customers to finalize the detailed commercial offering and Terminal User Agreement ahead of launching the Binding phase of the Open Season in the 2nd quarter of 2021 which will be open to any further interested parties. As Ms. Stoves energetically concludes, ”We’re off to a great start!”

About Hanseatic Energy Hub

Hanseatic Energy Hub will develop, construct and operate a state-of-the-art LNG terminal in an industrial area near the city of Stade, Germany, in the vicinity of the Port of Hamburg.

The LNG terminal is planned to have a regasification capacity of 12 bcm/a and will offer send-out to the German gas grid and for local consumption. It will also enable reloading to LNG tankers, river barges for bunkering, trucks and on-site rail.

The terminal will be built in an existing industrial park, allowing the terminal to use waste heat from an industrial partner onsite. This synergy will further improve the environmental footprint of the site.

The industrial park has one of the largest electrical substations in Germany, which distributes a large volume of electricity from offshore wind farms in the North Sea. This makes Stade a good location for future energies – particularly hydrogen and bio-LNG. These can be produced or imported to the site and further processed.