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European Commission approves JV for LNG terminal

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Hydrocarbon Engineering,

Under the EU Merger Regulation, Gasunie LNG Holding B.V., Oiltanking GmbH, and Vopak LNG Holding B.V. have acquired approval to establish a joint venture (JV) for owning and operating an LNG terminal in Germany.

The three companies are currently investigating the possibilities for constructing and operating a multi-service LNG terminal, which will include import and small scale services in Brunsbüttel.

The approval from the European Commission is seen as an important milestone in the feasibility study that the companies are currently conducting. The study consists of economic, technical, nautical and regulatory assessments, as well as the permits procedures.

The parties can now jointly work towards the next development phases.

The companies are yet to make financial investment decisions on the proposed project.

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