Ukraine agrees on first U.S. LNG supply deal with Venture Global
(Reuters)—Ukraine has signed its first liquefied natural gas (LNG) deal with a U.S. company to help to avert an energy supply crunch amid a war with its bigger neighbor Russia.
DTEK Group, Ukraine's largest private energy company, said it would buy LNG from U.S. energy group Venture Global. Under the agreement, DTEK's trading unit D. Trading will buy cargoes from Venture Global's Plaquemines LNG facility in Louisiana from later this year until the end of 2026.
D. Trading will also purchase up to 2 metric MMtpy of LNG from Venture Global's third facility, Calcasieu Pass 2, for 20 yr.
Ukraine presently has no regasification terminals for LNG imports, but DTEK has contracts for regasification capacity elsewhere in Europe that have connecting pipelines with Ukraine.
Earlier this year, Ukraine joined an initiative for a planned corridor to carry gas between Greece and countries to its north, and Ukraine also has a pipeline link with Poland, which has an LNG terminal.
Ukraine said on Thursday it needs more air defenses within weeks to allow repairs to the half of its power infrastructure destroyed by Russian attacks, or it will not be able to meet demand in the winter.
Ukraine has previously said it will not extend a 5-yr deal with Russia's Gazprom on the transit of Russian pipeline gas to Europe when it expires at the end of the year and has been exploring options for alternative supply.
Venture Global LNG's initial Calcasieu Pass plant has been at the center of a long-running dispute involving energy companies including BP, Shell and others over access to LNG from the plant. The disputes have not stopped it from signing LNG supply deals, including a 20-yr deal signed in June last year to provide Germany's Securing Energy for Europe GmbH (SEFE) with 2.25 metric MMtpy of LNG.
Related News
Related News
- Shareholders’ Resolution: MOL to pay $668-MM dividend
- Firm building QatarEnergy-Exxon LNG plant in Texas (U.S.) files for bankruptcy
- Waste manager WM explores $3 billion sale of renewable natural gas unit
- Black & Veatch delivers feasibility study for Andes Energy LNG terminal
- Equinor's Hammerfest LNG plant outage extended
- Shell exits China power market businesses, renews focus on natural gas
- Youth climate-change lawsuit targets Alaska LNG project
- EU approves law to hit gas imports with methane emissions limit
- Veolia, Waga Energy and ENGIE collaborate to develop renewable natural gas industry in France
- Hawai'i Gas selects Eurus Energy America, Bana Pacific for hydrogen and renewable natural gas projects
Comments