Germany’s Hanseatic Energy Hub has announced the final investment decision (FID) to build what it claims is the country’s first land-based terminal for liquefied gases.

Located at Stade Industrial Park in Lower Saxony, Germany, the terminal is also known as the HEH. It is set to become operational in 2027 with an investment of approximately €1bn ($1.09bn).

Initially, HEH will function as an import terminal for liquefied natural gas (LNG), synthetic natural gas (SNG), liquefied biomethane, and eventually for ammonia.

Construction of the HEH is a collaborative effort involving shareholders Partners Group, Enagás, Dow and the Buss Group.

Dow Germany executive board chairwoman and president Julia S Schlenz said: “The land-based LNG terminal will be a crucial building block in the transition to a net-zero future in Germany and Europe.”

An engineering, procurement and construction consortium led by Técnicas Reunidas, alongside FCC and Enka, has been contracted for the project.

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The HEH’s total capacity will reach 13.3 billion cubic metres of natural gas annually, with 90% already secured through long-term bookings by EnBW, SEFE and ČEZ. The remaining capacity is due to cater to short-term market demands.

Meanwhile, Enagás has increased its stake in the terminal project from 10% to 15%.

Enagás CEO Arturo Gonzalo said: “Enagás has strengthened its entry into Germany by increasing its stake in the Hanseatic Energy Hub, up to 15%, which is fully aligned with the company’s strategy to contribute to the security of energy supply and to drive the process of decarbonisation in Europe.

“Enagás will operate the Stade LNG terminal allowing us to support this strategic project with all our broad expertise.”

Last year, Enagas agreed to acquire Uniper’s 20% stake in Dutch BBL Company VOF, which owns a gas interconnection linking the UK and the Netherlands.