Germany's DET announces LNG Auctions at Two Terminals on February 4-6

Deutsche Energy Terminal's (DET) website announced that it would hold short-term auctions to determine the capacity for LNG regasification at its Wilhelmshaven, Brunsbuettel and Brunsbuettel terminals between February 4, 5, and 6.

The pipeline gas supply from Russia into central Europe stopped on January 1, so some countries affected are now relying upon alternative supply routes, and more LNG is arriving in the region on ships.

The announcements are closely watched by traders and utility companies to ensure that they can provide the volume their customers need in winter when demand is high and stock levels are low.

The note, dated Jan. 14, stated that the auctions of obligation to deliver slots (OTD), a legal term under which the seller is required to hand over gas, will be held at both terminals on Feb. 4.

It said that auctions for NOTD (no obligation to deliver), another term which excludes fulfilment in certain circumstances, will be held for Brunsbuettel and Wihelmshaven on February 5th.

Slots include services such as the regasification of super-cooled liquids from ships into gas. They also store the regasified volume and feed it to the onshore grid.

DET is a fully-owned subsidiary by the German government. Both terminals are floating storage units and regasification (FSRU), which were installed in order to compensate for the loss of Russian pipeline supplies to Germany after 2022.

Since the beginning of the year, the flow of LNG through Germany has increased. This is also due to the elimination of German fees at border points. (Reporting and editing by David Goodman. Vera Eckert)

(source: Reuters)