OMV Aktiengesellschaft, Central Europe's leading oil and gas group, acquires a 5% stake in a projected Liquefied Natural Gas (LNG) terminal in Rotterdam. Today, OMV Gas International GmbH, a wholly-owned subsidiary of OMV, has signed a corresponding agreement. OMV, DONG Energy (Denmark) and Essent (Netherlands) will each acquire a 5% stake in the Gate terminal, which is a consortium of N.V. Nederlandse Gasunie (Gasunie) and Koninklijke Vopak N.V. (Vopak). The partners announced today that the final investment decision has been taken to construct the LNG import terminal in Rotterdam. The terminal is expected to be fully operating in the second half of 2011. The consortium estimates that the total project costs of the LNG terminal will amount to approx. EUR 800 mn.
Werner Auli, OMV member of the Executive Board responsible for Gas, stated: "Our investment activities in LNG and in pipelines are important components in realising our growth strategy. In 2006 LNG imports in Europe2010. In the long term, LNG will represent 25% of total EU supplies. Within the overall development of the European energy markets the importance of natural gas is increasing steadily as it is bridge function to a sustainable future."
Reinhard Mitschek, Senior Vice President of the Logistics business unit within OMV Gas International GmbH, stated: "This cooperation in the Netherlands is an important step in OMV's LNG business. With our participation in the Adria LNG terminal project in Croatia and with our commitment to Gate we are gaining an excellent strategic position in two main regions for LNG in Europe" represented a share of 11% of the total gas market. The regasification capacity will double by
EconGas first customer of Gate terminal
The first company to have signed long-term throughput agreements with Gate terminal are Austrian EconGas (an OMV subsidiary for Gas Marketing and Trading), Danish DONG, and Dutch Essent. EconGas singed a contract for annually 3 bcm. For EconGas this is a strategic step in the LNG business and will improve its supply portfolio.
Gate terminal
N.V. Nederlandse Gasunie (Gasunie) and Koninklijke Vopak N.V. (Vopak) plan to build the Gate terminal in Rotterdam. It will be an independent, multi-user business model. It will be located at the entrance of the Port of Rotterdam, with good connections to the European natural gas market, and close to continent's leading gas trading points.
During the first development phase throughput capacity will be 9 bcm per year. Operation is envisaged to start in the second half of 2011. The capacity will ultimately be expanded to 16 bcm. When the final expansion phase has been completed the terminal will be capable of handling 180 LNG tankers per year.
Ulco Vermeulen, Managing Director of Gate terminal: "We are excited that we have succeeded in realising the first LNG terminal in the Netherlands together with our customers. I am confident Gate terminal will attract additional interest as a delivery point, which will enable us to expand the terminal."
Background information about OMV Aktiengesellschaft:
With Group sales of EUR 18.97 billion and a workforce of 40,993 employees in 2006, as well as market capitalization of approx. EUR 15 billion, OMV Aktiengesellschaft is Austria's largest listed industrial company. As the leading oil and gas group in Central Europe, OMV is active in Refining and Marketing (R&M) in 13 countries. In Exploration and Production (E&P) OMV is active in 21 countries on five continents. OMV sells more than 14 bcm gas a year. OMV's Austrian gas hub Baumgarten annually transports approximately 47 bcm of gas. OMV's Central European Gas Hub is amongst the three largest hubs in Europe.
With the acquisition of a majority stake in the Romanian Petrom, OMV has become the largest oil and gas group in Central Europe, with oil and gas reserves of approx. 1.3 billion boe, daily production of around 320,000 boe and an annual refining capacity of 26.4 million metric tons. OMV now has over 2,518 filling stations in 13 countries. The market share of the group in the R&M business segment in the Danube Region is now 20%.
OMV further strengthened its leading position in the European growth belt through the acquisition of 39.6% of Petrol Ofisi, Turkey's leading company in the retail and commercial business.