DET holds capacity allocation auctions for German North Sea coast terminals

The state-owned operating company Deutsche Energy Terminal (DET), responsible for the marketing and operation of the four LNG terminals (FSRU) on the German North Sea coast, has for the first time marketed regasification capacities of the terminals in digital auction rounds.

On a total of six marketing days, from October 16-19 and October 23-26, 2023, DET said the market participants were able to purchase time slots for the use of regasification capacities in the period from April to December 2024 at the Brunsbüttel and Wilhelmshaven 1 sites. Both slots with and without delivery obligations were allocated to traders.

All of the 60 slots on offer were awarded at prices between 55 and 81.2 Euro cents/MMBtu, DET noted, adding that this will ensure full capacity utilization of the two terminals for 2024.

“We are very pleased that we were able to realize the first marketing round under great time pressure and the challenges of the newly established DET. The planning, implementation and marketing of comparable projects would otherwise take several years, and we were able to successfully complete this in a very short time,” Peter Röttgen, Managing Director of DET, stated.

“Our offer has been well received by shippers, and we have established ourselves as a new player in the market. As expected, the fact that all the slots we offered were marketed confirms that there is demand in the gas market. And it is also an important success in terms of the Federal Government’s goals for security of supply.”

With the construction and planned commissioning of two additional FSRU terminals in Stade and Wilhelmshaven 2 in the first quarter of 2024, all federally-owned DET terminals on the German North Sea coast will be available, DET emphasized, adding that short-term capacity auctions are also planned for these terminals for December 2023.

For all four DET terminals, long-term capacity auctions with terms of more than one year are planned for April 2024.