GNL Québec and Main Shareholders of Hanseatic Energy Hub Cooperate to Create Low-carbon Supply Chain for Lng from Canada to Germany

Source Press Release
Company Hanseatic Energy Hub GmbHBuss Group GmbH & Co. KG 
Tags Asset Deals, Deals, LNG & Gas Storage/Processing
Date June 03, 2021

The two energy infrastructure providers agree on a strategic partnership to link Canada’s large-scale netzero LNG export terminal with Germany’s zero-emission LNG regasification terminal

- GNL Québec and Buss Group together with further shareholders of Hanseatic Energy Hub are pleased to announce a strategic partnership to develop a low-carbon supply chain for liquefied natural gas (“LNG”) from Canada to Germany.

The parties agreed on developing joint standards and processes for the importation of LNG exported from GNL Quebec’s carbon-neutral Énergie Saguenay LNG export terminal in Québec, Canada into Hanseatic Energy Hub’s carbon-neutral LNG regasification terminal in Stade, near Hamburg, Germany. The strategic aim is to meet the growing demand for gas imports in Germany as a consequence of the coal phase-out and the declining indigenous production as well as the increasing focus on the reduction of carbon footprint of the supply chains. As part of the arrangement, the parties will jointly explore regulatory and technological solutions throughout the supply chain to monitor and reduce the greenhouse gases associated with each cargo, including molecule tracing using blockchain technology.

Tony Le Verger, President GNL Québec says, “With this announcement, the Énergie Saguenay project has reached a new important milestone in its development and we are delighted to partner with shareholders of Hanseatic Energy Hub. Our companies share common missions, visions and values in accelerating the energy transition and the fight against climate change.”

Manfred Schubert, Managing Director and shareholder of Hanseatic Energy Hub adds, “With GNL Québec we have found a strategic partner to help us be an active part of the necessary energy transition. The partnership will lay the foundation to provide low-carbon LNG from Canada for the German industry. We are confident that this agreement supports the German-Canadian energy partnership concluded by our governments in March. Our long-term vision is to develop the Hanseatic Energy Hub into an import terminal that will supply carbon-neutral fuels, such as hydrogen, to our industry.”

Tony Le Verger concludes, “This strategic partnership helps GNL Québec achieve its objectives of reducing global GHG emissions. Understanding the underlying trends and the growing importance of tracing back each molecule to its origins, we are thrilled to be working with our new partner on solutions that could provide downstream consumers with a more thorough and accurate footprint statement for our low-carbon Canadian LNG. It has always been our founders’ vision to develop our projects in a new way that blends established industry standards with cutting-edge technology, innovation, corporate social responsibility, and environmental stewardship.”

Source: EvaluateEnergy® ©2021 EvaluateEnergy Ltd