Venture Global and SEFE announce 20-year LNG SPA
Published by Theodore Reed-Martin,
Editorial Assistant
LNG Industry,
Venture Global LNG and Securing Energy for Europe GmbH (SEFE) have announced the execution of a long-term sales and purchase agreement (SPA). Under the agreement, SEFE’s subsidiary, WINGAS GmbH, will purchase 2.25 million tpy of LNG from CP2 LNG, Venture Global’s third project, for 20 years.
“SEFE is ensuring security of energy supply for not only Germany, but the rest of the European gas market. Germany has acted decisively to diversify its energy portfolio and LNG will be a vital part of that mix as it seeks to strengthen its energy security while at the same time advancing environmental progress,” said Mike Sabel, CEO of Venture Global LNG.
“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,” added Egbert Laege, CEO of SEFE.
SEFE, a German state-owned company, joins other CP2 LNG customers, including ExxonMobil, Chevron, JERA, New Fortress Energy, INPEX, China Gas, and EnBW. To date, 9.25 million tpy of the 20 million tpy nameplate capacity for CP2 has been sold with active discussions ongoing for the remaining capacity. Approximately one-third of the current offtake agreements are with German buyers, showcasing the importance of CP2 LNG to Germany’s long-term energy security.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/26062023/venture-global-and-sefe-announce-20-year-lng-spa/
You might also like
INEOS and Covestro LNG-linked gas supply agreement
INEOS and Covestro have announced a long-term agreement for the supply of natural gas for up to eight years, starting in 2027.