US-based LNG developer Venture Global LNG has signed a supply agreement with German state-owned company Securing Energy for Europe (SEFE).
Under the sales and purchase agreement, Venture Global will supply 2.25 million tonnes per annum (mtpa) of LNG to SEFE’s subsidiary Wingas for two decades.
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Venture Global will deliver LNG from its LNG Calcasieu Pass 2 (CP2) project.
Construction of CP2 project is planned for later this year on an approximately 546-acre site in Cameron Parish, Louisiana, reported Reuters.
SEFE CEO Egbert Laege said: “By joining forces with Venture Global LNG, SEFE makes another important step on our mission to secure energy for German and European customers and meet the energy demand of the region.
“In delivering a substantial amount of the contracted capacity of CP2 LNG to European customers, we contribute to the further diversification and sustainability of the European energy supply.”
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By GlobalDataThe LNG company has so far secured commitments for 9.25mtpa of the 20mtpa capacity for the proposed CP2 project, and negotiations for the remaining capacity are ongoing.
Other CP2 LNG customers include Chevron, China Gas, EnBW, ExxonMobil, Inpex, JERA and New Fortress Energy.
Venture Global LNG said in a statement: “Approximately one-third of the current offtake agreements are with German buyers, further underscoring the importance of CP2 LNG to Germany’s long-term energy security.”
Being developed by Venture Global LNG’s subsidiaries Venture Global CP2 LNG and Venture Global CP Express, the CP2 LNG Project will comprise 18 LNG blocks to liquefy domestically produced natural gas.
The export terminal, which will receive natural gas from the new CP Express pipeline, will also comprise four full containment LNG storage tanks and two marine loading docks.
In April 2023, Venture Global secured $7.8bn in financing to develop phase two of its Plaquemines LNG project in Louisiana.
