Dow to Buy Minority Stake in German Energy Hub Constructing LNG Terminal

U.S.-based chemicals maker Dow Inc. will take a minority stake in a consortium constructing an LNG import terminal in Germany, at a time when Europe looks to reduce its reliance on Russian energy.

The investment in Hanseatic Energy Hub GmbH comes after the Biden administration pledged the supply of 15 Bcm of LNG to the EU this year following Russia’s invasion of Ukraine.

The import terminal has a projected regasification capacity of 13.3 Bcm of natural gas per year and would satisfy up to 15% of Germany’s natural gas demand, Dow said in a statement on April 11.