Venture Global LNG signs 20-year contract with German energy firm
(Reuters) - U.S. liquefied natural gas developer Venture Global LNG on Thursday said it had signed a 20-year deal to provide Germany's Securing Energy for Europe GmbH (SEFE) with 2.25 mpta of LNG. With this deal, Venture Global would become Germany's largest LNG supplier, with a combined 4.25 mpta of LNG, the company said.
Th contract will deliver supplies from Venture Global's LNG Calcasieu Pass 2 project. Approximately half of CP2 20 mpta nameplate capacity has been sold, with a third of the contracted capacity committed to German customers, Venture Global LNG noted.
Construction of the CP2 project in Cameron Parish, Louisiana, in expected to begin later this year.
"Venture Global is thrilled to begin a strategic partnership with SEFE, making our company the largest long-term LNG supplier to Germany," said Mike Sabel, CEO of Venture Global LNG.
SEFE is an integrated energy company owned by the German government.
The SEFE deal brings the total committed for the project to 9.25 mpta of the 20 mpta nameplate capacity for CP2, Venture Global LNG said.
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