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27 March, London, UK – Standard Chartered, a leading international cross-border bank, announces its role as Mandated Lead Arranger in the successful close of a project financing for the Hanseatic Energy Hub. The Hub is a liquified natural gas (LNG) terminal being developed in Stade, northern Germany.
This project is strategically important to Germany and the Czech Republic as it will ensure the ongoing security and resilience of their energy supply. Output from the terminal will be sufficient to meet a significant portion of the countries’ annual gas consumption requirements. The terminal development is designed to recycle waste heat from adjacent industrial plants, which eliminates the need for any additional heat source in the regasification process. The project will also be ready to handle biomethane and synthetic natural gas from the time of commissioning, and in future could be adapted to handle hydrogen derivatives such as ammonia. The terminal will begin operating in 2027. Standard Chartered played a leading role in the syndication of banks financing the project. The financing is also backed by long term Terminal Use Agreements with European utility companies.
Commenting on the deal, Alper Kilic, Global Head, Project and Export Finance at Standard Chartered, said: “We’re proud of our growing presence in the financing of energy-related infrastructure projects in continental Europe. This deal highlights our continuing support for the transition to a lower carbon economy while continuing to meet critical energy needs.”
This project demonstrates Standard Chartered’s ongoing commitment to supporting clients in transition, while contributing to the energy resilience and security of the markets we serve.
