New German re-gasification capacity

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AE-NMidlands
Posts: 2032
Joined: Wed Jun 02, 2021 6:10 pm

New German re-gasification capacity

#1

Post by AE-NMidlands »

A few months back I asked what the options were for a fleet of re-gasification barges parked around the European coast to keep the gas grid fed... it looks like it has been done, or started anyway
https://www.bbc.co.uk/news/world-europe-63709352 (Ukraine war: How Germany ended reliance on Russian gas) says
on Germany's windswept North Sea coast, engineers have just finished building - in record time - the country's very first import terminal for liquified natural gas (LNG). LNG is natural gas which is cooled to liquid form to reduce its volume and make easier to transport. It's then converted back to gas form upon reaching its destination.

Germany is rightly notorious for its ponderous bureaucracy; this kind of project would normally take years, but the authorities slashed away at red tape to enable completion in under 200 days....

The most important part of the terminal - a 'floating storage and regasification unit' (FSRU) - has yet to moor up. The FSRU, which is essentially a specialised ship upon which the LNG is converted back to its gas state, will be leased at a reported 200,000 euros (£172,732) a day.
200k Euros a day! Can it be that complex?
Reminds me of the sign (allegedly) on the wall of a US garage: "Our work has 3 attributes, Quick, Cheap and Good. Unfortunately you can only have 2 of these on any one job!"
Last edited by AE-NMidlands on Fri Nov 25, 2022 4:47 pm, edited 1 time in total.
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Mart
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Re: New German re-gasification capacity

#2

Post by Mart »

Wowza, that's a lot of money.

Just Googled "FSRU + lease cost", and got a hit to Finland leasing one for 10yrs at €460m, so approx €126k per day.

And this will mean buying in gas at LNG prices. Mr Putler has a lot to answer for, hopefully Ukraine's incredible efforts will help to move democracy forward In Russia. Hopefully.
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CrofterMannie
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Re: New German re-gasification capacity

#3

Post by CrofterMannie »

That seems a fairly understandable cost. It will be a big and expensive bit of boat and the operating cost will probably include most crew and maintenance.

The last drill ship I was on had an break even cost of $170k a day for the ship owner. The operating cost for the oil company contracting the ship would have been about $500k a day by the time they had paid for diesel, drilling services etc. That was 3 or 4 years ago, at times when the market is tight you can double the above prices.
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smegal
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Re: New German re-gasification capacity

#4

Post by smegal »

Mart wrote: Fri Nov 25, 2022 3:35 pm Wowza, that's a lot of money.

Just Googled "FSRU + lease cost", and got a hit to Finland leasing one for 10yrs at €460m, so approx €126k per day.

And this will mean buying in gas at LNG prices. Mr Putler has a lot to answer for, hopefully Ukraine's incredible efforts will help to move democracy forward In Russia. Hopefully.

That is quite interesting. Especially when you consider that this entire (small) terminal Approximately €100 million.

https://www.gem.wiki/Hamina_LNG_Terminal
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