Germany signs deal with Greek shipper to reduce reliance on Russian gas

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German Economy and Climate Protection Minister Robert Habeck (left) and George Prokopiou (right), owner of Dynacom Tankers, Sea Traders and Dynagas, sign a contract during a ceremony for a floating LNG terminal in the port of Wilhelmshaven, Germany, on May 5. [Fabian Bimmer/Reuters]

The German federal government has chartered two floating storage and regasification units (FSRUs) from a Greek shipping company that are expected to play an important role in the country’s efforts to reduce its dependence on Russian energy.

Chartered from George Prokopiou’s Dynagas Ltd through Düsseldorf-based energy company Uniper, the tankers Transgas Power and Transgas Force are due to set sail for Germany later this year, and once operational are expected to provide full capacity equivalent to 30% of Russian gas imports. To Germany.

“We have long advocated for European countries to develop LNG import infrastructure in order to diversify their sources of natural gas supply. The installation of the two FSRUs will enable Germany and the entire European region to significantly increase their LNG import capacities in a timely and environmentally friendly manner, without any permanent footprint onshore.” , Uniper quoted George Prokopiou, 76. founder and president of Dynagas, as said.

“We look forward to the installation of FSRUs in Germany and supplying the country with natural gas which will ultimately also enable the transition to a low carbon future,” he said.

According to Uniper, the Transgas Force and Transgas Power, built in 2021, are among the “most modern, safe and environmentally friendly of their kind with a total natural gas emission capacity of up to 7.5 billion of m3 / a and an LNG storage. capacity of 174,000 m³ each. The combined capacity is equivalent to around 30% of Russian gas imports into Germany. »

“FSRUs will begin service in early 2023 with the first gas release depending on the completion of onshore facilities at sites selected by the German government,” it said in the announcement posted on its website.

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