There will certainly be no floating LNG terminal in Terneuzen. According to Gasunie, the terminal, where liquefied gas is converted into natural gas, is not profitable enough. According to Marie-Lou Grégoire of Gasunie, there are too many technical problems.
It’s not the place, he says. “Combined with the total business case, we didn’t see fit to invest further into this.” Terneuzen had the best credentials for a floating terminal. ‘Over the last few months we have had intense contacts with various local and regional authorities, companies and port authorities. But it didn’t work technically.’
Subsidy
Even with a government grant, Grégoire sees no point in the project, because it would be a temporary terminal that would be established for three years. The problems already start with the delivery date, which would be this year. And this cannot be done. With an extra grant, the terminal could be ready in 2024, but then the planned business case won’t work out. “It’s a three-year period.”
This is why we are now looking at other places. “Before going to Terneuzen, we looked at other locations in the Netherlands,” says Grégoire. As gas is still badly needed by the Netherlands, production at the Eemshaven floating terminal will be increased. ‘We do the same in Rotterdam too. A fourth tank is also being built there.”
Source: BNR
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
