LNG terminal: Czech Republic secures capacity in Stade
The Czech Republic has secured capacity at the future LNG terminal in Stade. Together with the government, the partly state-owned energy group CEZ has contractually agreed the annual use of two billion cubic meters, a government spokesperson announced in Prague on Thursday. This is more than a quarter of the current annual consumption in the Czech Republic. According to the information, the agreement will initially apply for 15 years from 2027 with an option to extend for 25 years.
This step strengthens the energy security of the Czech Republic, which was almost completely dependent on Russian gas in the past, it was said in Prague. "The fact that a landlocked country has so quickly freed itself from dependence on Russian gas imports is not only a great success, but also an investment in our future," said Industry Minister Jozef Sikela.
The Czech Republic's annual natural gas consumption in 2022 was 7.5 billion cubic meters. Since the Russian attack on Ukraine in February 2022, the government has repeatedly appealed to citizens to use the energy resource sparingly. The LNG terminal operated by Hanseatic Energy Hub in Stade, Lower Saxony, is one of five locations in Germany where floating LNG terminals are to be built.
The government's agreement with CEZ to utilize two billion cubic meters of gas annually at the LNG terminal in Stade is a significant step towards diversifying the Czech Republic's energy sources in the transportation sector, potentially reducing its reliance on gas for shipping. This strategic move aims to reduce the country's energy dependence on Russia, as highlighted by Industry Minister Jozef Sikela.
Source: www.dpa.com
