Venture Global and EnBW sign LNG sales and purchase deals
U.S. LNG export project developer Venture Global and German energy company EnBW have signed two long-term sales and purchase agreements for 1.5 million tonnes per annum (mtpa) of LNG.
The LNG will come from Venture Global’s Plaquemines and CP2 facilities, starting 2026. According to the agreement, EnBW will purchase 0.75 mtpa from Plaquemines LNG and 0.75 mtpa from CP2 LNG for 20 years.
Therefore, EnBW becomes the next European customer of Venture Global, which already announced agreements with PGNiG, BP, Shell, Repsol, Edison, and GALP.
Venture Global’s first facility Calcasieu Pass started producing LNG in January 2022. The company is also developing an additional 60 mtpa of production capacity in Louisiana. In addition, it is developing carbon capture and sequestration (CCS) projects at each of its LNG facilities.
The company’s new project CP2 LNG will take place in Cameron Parish, adjacent to Calcasieu Pass.
Furthermore, the company took an FID for the first phase of Louisiana’s Plaquemines LNG export facility in May. The first phase includes a capacity of 13.33 mtpa.
Mike Sabel, CEO of Venture Global LNG, said: “This is the first direct binding offtake agreement for long-term US LNG signed by a German company, an important step that manifests Germany’s strategy to diversify its energy mix. Our company is honored to become a major provider of LNG to Germany.”
Georg Stamatelopoulos, COO Generation & Trading at EnBW said: “We have expanded our LNG activities step by step in the recent years. LNG plays a key role in the diversification of our fuels for electricity and heat generation; It opens up the possibility of new sources to secure Germany’s gas supply in the current energy transition phase and builds a bridge to a green energy supply.”