Germany’s Costly LNG Terminals Aren’t Paying Off as Imports Dip

By Petra Sorge and Anna Shiryaevskaya

Jan 10, 2025 (Bloomberg) –Germany spent big on liquefied natural gas terminals to ensure energy security, but the high cost of using them means they’re bringing in a tiny fraction of its gas needs.

Only about 8% of Germany’s total gas imports last year came via its shipping terminals in Wilhelmshaven, Brunsbüttel, Lubmin and Mukran, according to energy regulator Bundesnetzagentur. 

“German terminals are more expensive to deliver to than the rest of northwest Europe,” said Qasim Afghan, a commercial analyst at Spark Commodities Pte Ltd. On average, variable regasification costs in Germany for cargo delivery in February are 86% higher than other such facilities in the region, he said. 

That’s because it’s more expensive to operate floating import terminals, especially in the winter. Also, fuel gas losses, associat