RWE plans to acquire a stake in the construction project of a regasification plant for liquefied natural gas (LNG) in the port of Rotterdam.
An agreement has been reached whereby RWE will acquire a 10% equity stake in the Dutch project company Gate Terminal. This commitment guarantees RWE Energy a throughput capacity of 3 billion cubic meters of gas into the European natural gas network, the German group said in a statement.
The project company is currently conducting feasibility studies and developing detailed engineering plans, as well as obtaining the necessary official permission.
Construction of the facility could begin in summer 2007, the firm believes, and start operations by 2010.
With this commitment, RWE is enriching its expertise in the international gas procurement sector and further strengthening its position in the European gas market. Our goal is to enhance the company’s gas portfolio along the whole value chain-from exploration to LNG to the end consumer, said Harry Roels, CEO of RWE.