CEZ.PR has announced a significant move in securing energy resources by booking a 2 billion cubic metres (bcm) annual capacity at Germany’s Stade LNG terminal starting from 2027. Prime Minister Petr Fiala highlighted this strategic decision as part of the Czech Republic’s efforts to diversify its natural gas supplies and reduce dependence on Russian energy.

Strategic Energy Diversification

The Czech Republic, following other European nations, is actively seeking alternatives to Russian gas. The Stade LNG terminal agreement, spanning 15 years with an option to extend for another decade, marks a pivotal shift in the country’s energy strategy.

Government and CEZ Collaboration

Industry Minister Jozef Sikela mentioned that the government, in collaboration with CEZ, is exploring various energy options, including piped gas. This new contract will take over from the current 3 bcm deal at the Netherlands’ Eemshaven terminal, which concludes in 2027.

Previous Plans and Future Prospects

CEZ, which is 70% state-owned, had previously considered securing LNG capacity at a new Polish terminal but decided against it due to unsatisfactory conditions. Meanwhile, Stade’s LNG infrastructure is expected to see a floating landing pier by winter 2023/24, with a land-based terminal to follow in 2027, where SEFE and EnBW have already committed as buyers.

Company Website: https://www.cez.cz

Source

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