Germany commits to four FSRUs

The government of the Russian import-dependent nation has involved itself in underwriting regasification vessel tendering

It is perhaps easy, and dangerous, for UK gas consumers, based in a country to a large extent not directly dependent on Russian molecules, to be complacent about the potential impact of Russia cutting supply to Europe—even if one understands the logic that a resultant scramble for available Norwegian pipeline and LNG import alternatives would reverberate across northwest Europe. The German government’s early May intervention into the floating regasification and storage unit (FSRU) market should serve as a wake-up call to that complacency. While two of Germany’s largest midstream gas firms, Uniper and RWE, will manage two each of the import projects, that does not deflect from the fact that f