Germany sublets idle FSRU Energos Force to Jordan

The floating storage and regasification unit (FSRU) Energos Force has been sublet to Jordan, according to confirmation from Deutsche Energy Terminal GmbH (DET), as uncertainty continues over the completion of the Stade LNG terminal in Germany.

The 174,000-m³ capacity vessel, acquired by Energos Infrastructure from Dynagas in a deal valued at around US$700M for two FSRUs, had been allocated to the Stade LNG project but has remained idle following delays to the facility’s commissioning.

DET, which manages Germany’s federally chartered LNG terminals, confirmed the redeployment to Riviera, “The FSRU Energos Force has been subchartered for deployment in Jordan. We cannot provide any further information on contractual details. Meanwhile, the next steps at the terminal site in Stade are being clarified.”

The Stade LNG terminal — backed by the Federal Ministry for Economic Affairs and Climate Action (BMWK), DET and Hanseatic Energy Hub (HEH) — was originally slated to begin operations in late 2023 but has encountered delays related to infrastructure readiness and permitting. Energos Force had been stationed off the German coast awaiting instructions.

DET stated that sub-chartering the vessel was a necessary step to reduce fiscal exposure, “As the FSRU terminal in Stade is not operational, BMWK and DET are obligated to continuously explore opportunities for subchartering Energos Force to prevent further financial damage to the Federal Republic of Germany and in accordance with strict budgetary regulations.”

The redeployment is reportedly structured so as not to interfere with the ongoing evaluation of how to proceed with the Stade site. “The subchartering has been structured in such a way that it does not interfere with the ongoing examination of options for the timely completion and subsequent commissioning of the Stade site,” the statement continued.

DET reiterated the priority remained securing LNG supply for Germany and Europe. “The highest priority is the security of supply for Germany and Europe. BMWK, DET and HEH are currently engaged in exploratory talks regarding the implementation of the outstanding work needed to complete the facility.”

Germany retains the charter on Energos Force via Energos Infrastructure, a portfolio company jointly owned by Apollo and New Fortress Energy.

Energos Infrastructure had previously purchased Energos Force and sister vessel Energos Power as part of a broader strategy to develop a global LNG infrastructure platform.

Both vessels were built by Hyundai Heavy Industries and originally operated by Dynagas.

With German LNG demand lower than expected and infrastructure timelines slipping, DET has increasingly turned to temporary solutions such as subchartering to offset costs associated with idle regasification assets.