Venture Global, Inc. and Securing Energy for Europe GmbH (SEFE) announced the finalization of an agreement under which SEFE’s subsidiary, SEFE Energy GmbH, will purchase an additional 0.75 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from CP2 LNG, Venture Global’s third project, for 20 years.
The announcement amends the existing Sales and Purchase Agreement signed by the companies in 2023, increasing the total volume of LNG purchased by SEFE from CP2 LNG to 3.0 MTPA.
Venture Global is expected to become Germany’s largest LNG supplier, with a combined 5 MTPA of 20-year offtake agreements signed with SEFE and EnBW. In addition to its existing long-term agreements, Venture Global to date has supplied Germany with almost 80 cargoes of LNG from its Calcasieu Pass and Plaquemines LNG facilities, enough to power 8 million German homes for one year.
“Venture Global is thrilled to expand our strategic partnership with Germany and SEFE and play a leading role in ensuring security of energy supply and affordability for not only Germany but the rest of the European gas market,” said Mike Sabel, CEO of Venture Global.
SEFE, a German state-owned company, is among numerous, world-class LNG customers for CP2 in Europe, Asia and the rest of the world. Accordingly, CP2 is a strategically important project to global energy supply and security. To date, approximately 11.5 MTPA of CP2 Phase One has been sold, raising the total contracted capacity for all of Venture Global’s projects to 41.5 MTPA.
