By Ed Frankl 
 

Uniper SE said Monday that regional authorities in Germany have given the go-ahead for the construction of a liquefied natural gas terminal on the North Sea coast, as the country seeks to curb its dependence on Russian gas.

Authorities in the northern German city of Oldenburg gave Uniper permission in a fast-tracked process to start building a LNG terminal in the town of Wilhelmshaven, the energy company said.

Construction can start immediately, with commissioning of the terminal aimed for this winter, it said.

The terminal is expected to handle up to 7.5 billion cubic meters of natural gas per year, about 8.5% of Germany's current gas demand per year, Uniper said.

The planning, approval and construction has been at eight times the normal speed, according to the Environment Minister of Lower Saxony, Olaf Lies, after Uniper submitted an application for the required permit in early June.

Uniper will build and operate the terminal, it said.

Earlier Monday, a report from Reuters said the German government is looking into rescue measures for struggling Uniper, including a potential bailout, as part of its updated energy-security law.

 

Write to Ed Frankl at edward.frankl@dowjones.com

 

(END) Dow Jones Newswires

July 04, 2022 09:50 ET (13:50 GMT)

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