Gasunie,Vopak Each Take 25% Stake, Essent 50% In LNG Deal
AMSTERDAM (Dow Jones Newswires)--N.V. Nederlandse Gasunie (NEG.YY) and Koninklijke Vopak N.V. (39300.AE) have agreed with Essent N.V. (ESS.YY) to further develop the Eemshaven LNG project, the companies said Tuesday in a press release.
The companies have signed a Heads of Agreement.
As part of the deal, Gasunie and Vopak each acquire a 25% stake in the project, while Essent keeps a 50% stake. Gasunie and Vopak are partners who took the initiative to develop Gate terminal, the first Dutch LNG import terminal, which will be built at the Maasvlakte in the Port of Rotterdam, the Netherlands.
The Gate terminal has an initial throughput capacity of 9 billion cubic meter (bcm) per year and can be expanded to a maximum of 16 bcm per year. The throughput capacity of the planned terminal in the Eemshaven port will be maximum 12 bcm per year.
Gasunie and Vopak have taken the final investment decision on the Gate terminal project, in which Essent will participate, both as a customer (for 3 bcm gas throughput) and as a shareholder (5%).