The agreement in principle provides EnBW with capacity rights to 3 billion cubic meters of natural gas per year from the LionGas terminal as well as a 15 percent equity stake in the facility. In addition to helping secure the supply of natural gas to Northwest Europe, the partnership between EnBW and 4Gas will strengthen the position of the Port of Rotterdam as a major European energy port. It will also strengthen the position of the Netherlands as a central gas trading hub.
4Gas CEO, Mr. Paul van Poecke said, “We are very pleased to be working with EnBW in Rotterdam. We hold them in the highest regard as one with a reputation for excellence in the energy business. We look forward to working closely with EnBW in the realization of LionGas, which is positioned to be operational during the German gas year 2010/2011.”
EnBW CEO Utz Claassen said: “With this strategic partnership, we can substantially strengthen our position in the gas market, win flexibility in the midstream gas market and create the basis for further growth. Our customers, EnBW and the complete European gas market will benefit from this memorandum.”
Pierre Lederer, EnBW Chief Operating Officer, for his part emphasized that “LNG inevitably will have an increasingly important role in satisfying European gas demand in general and in particular in meeting EnBW’s growing demand in the years to come. Creating the necessary import infrastructure is a significant building block of the LNG chain and shows EnBW’s willingness to contribute to European security of supply.”
The LionGas LNG import and regasification terminal will be based at the mouth of the Port of Rotterdam with a total annual throughput capacity of 9 billion cubic metres. The site is sufficiently large and has permits for expansion to 18 bcma capacity. The project has received all its environmental and construction permits. Earlier in the year 4Gas signed an MoU with ENECO for capacity rights to 2 billion cubic meters of natural gas per year. ENECOGEN and LionGas also reached an agreement in principle to use residual heat from the gas-fired power plant for heating LNG (Liquefied Natural Gas).
About 4Gas and LionGas
4Gas is dedicated to developing and operating LNG import regasification and storage terminals around the world. It is the world’s only independent company with a focus on LNG and a global footprint. The company’s Rotterdam-based project LionGas is the only fully permitted LNG import terminal project in The Netherlands. Additional 4Gas terminal projects include Dragon LNG in Milford Haven, Wales, Pegaz LNG near Bordeaux, France, MapleLNG in Nova Scotia, Canada and Vista del Sol near Corpus Christi, Texas, USA. 4Gas has offices in Rotterdam (HQ), London, Houston, Halifax, Paris, Jakarta, Bordeaux, Moscow, and Islamabad.
For more information on 4Gas please refer to our website: www.4Gas.com.
The Carlyle Group and Riverstone Holdings, LLC are the largest shareholders in 4Gas.
For more information on Carlyle/Riverstone please refer to www.carlyle.com.
Headquartered in Karlsruhe and servicing some six million customers, EnBW Energie Baden-Württemberg AG is the Germany’s third largest integrated utility. EnBW’s core activities involve the electricity and gas segments as well as energy and environmental services. The company services customers throughout Germany as well as in a number of Central and Eastern European markets. EnBW generated a total revenue of over € 13 billion in 2006 and employs 21,000 people. For more information on EnBW please refer to EnBW website www.enbw.com.
Note to the editors:
For additional information about 4Gas please contact Harry van Rietschoten (4Gas) via +31 10 242 60 57 or Valerie Roos via +31 20 3055 900.
For additional information about EnBW please contact Dirk Ommeln via +49 721 63-14320.