German private LNG terminal operator Deutsche ReGas has discontinued its charter with the Federal Ministry for Economic Affairs and Climate Protection for a floating storage and regasification unit in the industrial port of Mukran.
The company said it had terminated the contract for Energos Power, one of the two FSRUs currently operating at the Deutsche Ostsee terminal.
The 2021-built 174,000 cu m vessel is owned by US-based LNG venture Energos Infrastructure for a long-term contract with the German government and subchartered to Deutsche Regas.
Deutsche Regas said the move follows a “significant market distortion in Germany” caused by the state-owned Deutsche Energy Terminal (DET), which has been marketing its capacities for the regulated LNG terminals at prices significantly below the cost-covering fees since late last year.
“DET’s ruinous pricing policy since December 2024 is one of several reasons for terminating the sub-charter contract. Deutsche ReGas regrets being forced to take this step,“ said Ingo Wagner, managing partner of Deutsche ReGas.
Deutsche ReGas also operates the LNG terminal in Lubmin, where it is working to develop a hydrogen import terminal in partnership with Höegh Evi.
Wagner added the company continues to consult with the German government regarding its latest move and that in the event of a supply shortage, “an immediate solution can be found at any time from ReGas’s perspective.”
Energos Infrastructure acquired the FSRU from Greece’s Dynagas as Transgas Power in 2024 together with Transgas Force, renamed Energos Force, for operations in the port of Stade under the direction of DET.
