WaveCrest Energy LLC is pleased to announce the commencement of a market consultation process for its proposed Teesside Flexible Regas Port in advance of a planned capacity auction to be launched in the third quarter of 2024. Teesside Flexible Regas Port will provide flexibility and energy security to the UK, with the potential to deliver up to 248.5 GWh per day of natural gas, equivalent to around 17 percent of the country’s natural gas demand.

Situated in the port of Teesport in northeastern England, the project will encompass onshore buffer storage and liquefied natural gas regasification equipment, connected to a dedicated marine jetty for the mooring and unloading of LNG carriers. Regasified LNG will then 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 aims for rapid construction, with an anticipated commercial operation date of 2026.

WaveCrest Energy selected Teesport for the project due to the port’s extensive history in energy infrastructure, ongoing energy transition initiatives in hydrogen generation, carbon capture and storage, and biogas sectors. The deep water access within the port and its extensive marine assets will ensure the safe and reliable operation of the project.

Chief executive officer of WaveCrest Energy, Rob Bryngelson, stated, “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.

Aligned with the goals of the UK’s overarching National Policy Statement for Energy, the project can meet peak gas needs, such as during the winter heating season, offering stability to the UK energy system as it integrates greater use of renewable sources in line with its net zero targets without requiring specialised floating storage regasification units or other bespoke equipment.

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

The market consultation process, commencing on March 18 and closing on April 26, will enable participants to provide feedback on various aspects of the project including design, operational characteristics, and services offered. WaveCrest Energy welcomes this input to optimise the Teesside Flexible Regas Port based on the experience and expertise of industry stakeholders, aligning the project with market needs.

For more information visit www.wavecrestenergy.com

20th March 2024