All slots sold, above-average utilization
The utilization of an LNG terminal is a complex issue that encompasses various factors and strategies. A fundamental distinction must be made between booking and actual capacity utilization. Since the start of operations, international traders have booked up to 100 percent of the available time slots for the delivery of LNG (see table below). In terms of energy volumes, the LNG terminals Wilhelmshaven 01 (FSRU Höegh Esperanza) and Brunsbüttel (FSRU Höegh Gannet) have been utilized at an average rate of 65.7 percent since commissioning (as of April 30, 2025). The utilization rate of our regasification vessels is therefore a good 15 percentage points above the European average. This is evidence of the good availability and required utilization of the system. But how is this value calculated in detail?
The relationship between capacity and utilization
The utilization rate of an LNG terminal is generally determined by the ratio of its technically maximum regasification volume in a given period (capacity) to the actually regasified volume of LNG (send-out). However, the capacity of the regasification vessel must not be considered in isolation. This is because an LNG terminal consists not only of the FSRU, but also of the superstructure for receiving and feeding the gas into the onshore network. The capacity of both the superstructure and the network operator must be taken into account.
Technology and safety as factors for capacity utilization
One hundred percent capacity utilization is generally not achieved at LNG terminals. There are numerous reasons for this. These include both predictable and unpredictable transport bottlenecks when feeding into the onshore gas grid, reductions in the necessary heat supply for the onboard regasification process, delayed or reduced quantities of LNG deliveries by different LNG tankers and their loading, and, last but not least, uncontrollable weather conditions that can impact the use of a terminal. For safety reasons, both landing LNG tankers and the FSRUs themselves are not permitted to continue their operations in all wind strengths or during extreme high and low water levels.
Market rules as factors for capacity utilization
It is not only technology and safety that have a significant influence on the capacity utilization of an LNG terminal, but also market rules. It is therefore entirely possible in the industry worldwide for LNG traders to book regasification capacities (slots) for the same cargo at different terminals around the world at the same time. However, they ultimately only use one of them. This legitimately secures traders opportunities to select the delivery location based on the current market situation. For example, they can divert an LNG tanker to Asia at very short notice, even though they also have a regasification contract with a terminal in Europe. This demonstrates a key function of LNG terminals, the flexibility that the market values and whose availability dampens the price.
This can reduce the actual send-out - if the trader cancels a delivery at short notice - even though the terminal is de facto fully booked and is also paid for all bookings. In order to ensure basic capacity utilization for operational readiness at all times, DET also offers capacities with an obligation to deliver (OTD). However, it can happen that LNG traders nevertheless accept contractual penalties for non-delivery because it is more economical for them to divert their freight.
Due to these diverse backgrounds, the DET uses its own definitions in addition to the usual DTRS capacity as a basis for calculation:
