US-based Venture Global LNG and Germany’s Securing Energy for Europe (SEFE) have entered a long-term sales and purchase agreement (SPA) under which SEFE’s subsidiary WINGAS will purchase 2.25 million tonnes per annum (mtpa) of liquefied natural gas (LNG) from CP2 LNG, Venture Global’s third project, for 20 years.
Venture Global noted it is set to become Germany’s largest LNG supplier, with a combined 4.25 mtpa of 20-year offtake agreements signed.
Mike Sabel, CEO of Venture Global LNG, called SEFE a key US ally and said: “Venture Global is thrilled to begin a strategic partnership with SEFE, making our company the largest long-term LNG supplier to Germany.”
Egbert Laege, CEO of SEFE, noted that the collaboration with Venture Global LNG is an important step in its mission to secure energy for German and European customers and meet the energy demand of the region.
To remind, the construction of CP2 LNG is set for 2023, and the terminal is expected to have a capacity of 20 million mtpa of LNG and a peak capacity of approximately 24 mtpa. It will be located in Cameron Parish, Louisiana, US.
To date, 9.25 mpta of the 20 mtpa nameplate capacity for CP2 has been sold with active discussions ongoing for the remaining one.
Venture Global said that approximately 1/3 of the current offtake agreements are with German buyers. Other customers include ExxonMobil, Chevron, JERA, New Fortress Energy, INPEX, China Gas and EnBW.
Besides CP2, Venture Global’s LNG projects include Plaquemines, Calcasieu Pass, and Delta, and the company is developing carbon capture and sequestration (CCS) projects at each of the facilities.
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