The American LNG company Excelerate has signed a five-year contract with the Federal government of Germany for the deployment of a floating storage and regasification unit (FSRU) to the port of Wilhelmshaven in northwestern Germany in the first quarter of 2023. The FSRU, named Excelsior, has a storage capacity of 138,000 cm and a regasification capacity of 5 bcm/year. It will go to drydock at the end of 2022 for scheduled maintenance prior to its deployment to Germany.
The project is part of five German LNG terminal projects initiated since the start of the war in Ukraine, as Berlin is trying to avoid an energy crisis this winter amid dwindling supplies of Russian gas. Indeed, in May 2022, it was announced that Uniper would start building a 7.5 bcm LNG terminal, also in Wilhelmshaven. Furthermore, also in May, Germany announced it would charter four FSRUs (two by Uniper and two by RWE) with a total added import capacity of 25 to 29 bcm/year. Still in May, RWE signed a preliminary deal with Sempra to import 2.25 Mt/year (3 bcm/y) of US LNG. In March 2022, Gasunie and RWE announced plans for an 8 bcm/year LNG import terminal in Brunsbüttel.
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