WaveCrest Energy supported Deutsche ReGas, the developer and operator of the Deutsche Ostsee LNG Import Terminal located in Lubmin, eastern Germany. This terminal was brought to market in a rapid manner with construction of the port improvements and topside infrastructure commencing in September of 2022 and first LNG deliveries occurring in beginning of January 2023. WaveCrest provided technical, operational, and commercial support to Deutsche ReGas for the development of the Lubmin LNG Import Terminal.

This project provided energy security to the German natural gas grid with a strategic location at the landfall of the Nordstream pipelines. Capable of providing baseload supplies of over 500 million cubic feet per day (5.2 billion cubic meters per year) of natural gas, timing was critical to get this project in service following the 2022 events in Ukraine.

The location of the LNG import terminal in Lubmin allowed Deutsche ReGas to take advantage of existing pipeline infrastructure to achieve an aggressive timeline. The floating storage and regasification unit (FSRU) Neptune was moored in the port of Lubmin in a repurposed shallow draft berth pocket and was fed LNG supplies from three small scale LNG carriers (SSLNGCs). These SSLNGCs received LNG from the floating storage unit Seapeak Hispania moored offshore in the Baltic Sea and functioned as a virtual LNG pipeline. While logistically unorthodox, this process allowed the project to have a fully operating LNG import terminal be delivered within 5 months from commencement.  The LNG import terminal in Lubmin was operated from January 2023 until April 2024 as Phase I with the goal of expanding its capacity and moving to a permanent location in Mukran in Phase II of the project.