Yamal LNG operator Novatek and Belgium’s Fluxys signed a land lease agreement with the Rostock port to build a mid-scale LNG transshipment terminal.
The joint venture will design, construct, finance, own and operate a mid-scale LNG transshipment terminal with a capacity of approximately 300,ooo tons per annum in the German port of Rostock.
The LNG terminal will receive LNG carriers from the Cryogas-Vysotsk liquefaction facility that Novatek is currently constructing in the port of Vysotsk located near the Saint-Petersburg area and further LNG deliveries to the consumer market will be made via trucks.
The LNG Terminal will also have an option of bunkering and loading of bunkering vessels.
“One of our LNG strategic initiatives is to develop small- to medium-tonnage projects to target niche markets and customer segments,” Novatek’s head Leonid Mikhelson said.
He added that this will enable the joint venture to build marketing channels in different markets and the facility will allow Novatek to market LNG as a marine fuel and motor fuel instead of diesel and fuel oil that will contribute to decreasing emissions and improving the environment.