WaveCrest announces consultation for regasification capacity

Teesside Flexible Regas Port aims to provide flexibility and energy security to the UK, with the potential to deliver up to 848 000 million Btu per day of natural gas, equivalent to around 17% of the country’s natural gas demand.

Located in the port of Teesport in northeastern England, the project will contain onshore buffer storage and LNG regasification equipment which will be connected to a dedicated marine jetty for the mooring and unloading of LNG carriers. Regasified LNG will be transported from the project site through a short segment of high-pressure natural gas pipeline for delivery into the UK National Transmission System. This streamlined and cost-effective design will allow for a rapid construction time of less than one year, with a planned commercial operation date of 2026.

WaveCrest Energy selected Teesport for the project given the port’s long history in energy infrastructure, which continues today with ongoing energy transition related initiatives in the hydrogen generation, carbon capture and storage, and biogas sectors. In addition, deep water access within the port and extensive marine assets will provide the necessary support to ensure the safe and reliable operation of the project.

WaveCrest Energy Chief Executive Officer Rob Bryngelson said: “The WaveCrest Energy team has a long and successful history in working in Teesport dating back nearly 20 years when the port became home to the world’s first dockside LNG regasification project. In support of the project’s efforts, we will continue working with statutory consultees, local stakeholders, and communities as part of the planning process. Our goal is to work closely with local partners through the approval, construction, and operation of the project to make this a true win-win for the country and the region.”

Enhancing the benefits of the project, the Teesside Flexible Regas Port is designed to blend imported LNG with incoming North Sea natural gas flows, with the complementary ability to inject nitrogen into the gas stream. This allows the receipt of supplies from most suppliers around the world providing broad market access while still meeting the UK’s National Transmission System specifications.

The project supports the goals of the UK’s overarching National Policy Statement for Energy as it is capable of meeting peak gas needs, for example during the winter heating season. This provides overall stability for the UK energy system as it integrates greater use of renewable sources in line with its net zero targets without the need for specialised floating storage regasification units or other bespoke equipment.

The project is classified as a Nationally Significant Infrastructure Project and will be seeking a Development Consent Order from the Secretary of State for Energy Security and Net Zero.

The market consultation process will commence on 18 March and close on 26 April, and will enable participants to provide feedback on various aspect of the project including design, operational characteristics, and services offered. WaveCrest Energy welcomes this input to allow for optimisation of the Teesside Flexible Regas Port based on the experience and expertise of industry stakeholders, and to better align the project with market needs.

Read the article online at: https://www.tanksterminals.com/terminals/21032024/wavecrest-announces-consultation-for-regasification-capacity/