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Gasunie LNG Holding B.V., Oiltanking GmbH and Vopak LNG Holding B.V. said on Wednesday that they are in the process of establishing the joint venture (JV) German LNG Terminal GmbH.

It follows last year's approval under the European Commission's EU Merger Regulation to establish a JV for owning and operating an LNG terminal in Germany.

The purpose of the JV is to build, own and operate an LNG terminal in the north of the country which would offer import and small-scale distribution services.

The location that has been under investigation is Brunsbuttel - along the Elbe river and close to the key port of Hamburg. With the Kiel Canal in direct proximity of the intended facility, the Scandinavian and Baltic countries could also be easily reached.

To attract interest from the market and to gain detailed insight in customer demand, an open season is being launched today, January 17.

"The start of the open season marks an important milestone in the development of Germany's first LNG terminal. The aim of the facility is to offer the following services: discharge and loading of LNG ships, storage of LNG, regasification and send out into the natural gas network and LNG distribution via trucks and barges," a company statement said.

Start of construction of the terminal is envisaged after a final investment decision in 2019, in order to be fully operational in the fourth quarter of 2022.