Czech Republic based energy conglomerate ČEZ Group has signed a long-term contract booking a capacity of 2 billion cubic meters at the onshore LNG Stade terminal in Germany
ČEZ Group with the support of Czech Republic signed the lease for 15 years though in connection with the future use of green hydrogen, it can be extended to 25 years.
Total terminal capacity is 13.3 billion cubic meters
ČEZ Group booked the 2 billion cubic meters out of the total capacity of 13.3 billion cubic meters of the terminal.
It is one of the fundamental prerequisites for restarting Czechia
Czech Prime Minister Petr Fiala said, “We promised to our citizens that we would strengthen the energy security of our country. We promised this as a government, and I defined it as one of the fundamental prerequisites for restarting Czechia. We have already taken several concrete steps, now we are adding another important piece of the mosaic.”
Onshore terminals will gradually replace the temporary floating ones
Whereas ČEZ CEO Daniel Beneš said, “Onshore terminals will gradually replace the temporary floating ones, so from the outset, we sought to acquire long-term capacity in one of them. Until recently, we had not been in the LNG market at all, and over the last year and a half, we have gained a lot of experience that we will now build on.”
ČEZ only has to cross one international border to transport the gas
He continued, “We have leased capacity at the floating terminal in Eemshaven until the end of 2027, and thanks to Stade we will be able to smoothly continue supplying LNG after this date. Another advantage is that we will only have to cross one international border when transporting gas to the Czech Republic.”
OFFSHORE ENERGY
