High Operating Costs Leave Europe’s Floating LNG Terminals Idle

Despite high natural gas prices and increased LNG demand in Europe after the end of Russian pipeline gas, floating LNG import terminals in France and Germany have sat idle for months as the high cost of operating the floating units undermines their competitiveness compared to onshore facilities. One example of this situation is the Le Havre floating terminal, commissioned by France’s TotalEnergies in 2023 as part of emergency measures in response to the energy crisis following the Russian invasion of Ukraine. The Cape Ann, the floating storage…