USA based Venture Global LNG and the German SEFE Securing Energy for Europe GmbH (SEFE) has announced the execution of a long-term LNG Sales and Purchase Agreement (SPA).
The parties announce that under this agreement, the SEFE subsidiary, WINGAS GmbH, will purchase 2.25 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from CP2 LNG, Venture Global’s third project.
Venture Global states that by this deal it is set to become Germany’s largest LNG supplier, with a combined 4.25MTPA of 20-year offtake agreements signed.
CP2 LNG construction is expected to begin this year Venture Global LNG inform, and approximately half of CP2 20MTPA nameplate capacity has been sold, with 1/3 of the contracted capacity committed to German customers for Germany’s long-term energy security.
SEFE, a German state-owned company with more than 1,500 employees mainly supplying industrial customers and municipal utilities, joins other CP2 LNG customers, including ExxonMobil, Chevron, JERA, New Fortress Energy, INPEX, China Gas and EnBW it is stated.
Egbert Laege, CEO of SEFE said that “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.”
Mike Sabel, CEO of Venture Global LNG, said also that “Venture Global is thrilled to begin a strategic partnership with SEFE, making our company the largest long-term LNG supplier to Germany,” and that “SEFE is playing a leading role in 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. We are honoured to support a key U.S. ally in each of these efforts.”