Germanyโs Securing Energy for Europe (SEFE) has finalized an agreement with U.S. energy player Venture Global to purchase an additional quantity of liquefied natural gas (LNG) from a project the latter is developing in Louisiana, United States.
CP2 LNG; Source: Venture Global
Under the deal, the German playerโs affiliate SEFE Energy will buy an additional 0.75 million tonnes per annum (mtpa) of LNG from CP2 LNG for 20 years.
Amending the sales and purchase agreement (SPA) the duo signed in 2023, the new contract will increase the total volume of LNG purchased by SEFE from Venture Globalโs third LNG project to 3 mtpa.
The U.S. player said the deal will make it Germanyโs largest LNG supplier, with combined 20-year offtake agreements signed with SEFE and EnBW totaling 5 mtpa.
โVenture 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,โ said Mike Sabel, CEO of Venture Global.
In addition to its existing long-term agreements, Venture Global claims to have already delivered almost 80 cargoes of LNG from its Calcasieu Pass and Plaquemines LNG facilities to Germany. The amount is said to be enough to power 8 million German homes for one year.
This follows SEFEโs LNG deal with another operator in Louisiana, Delfin Midstream, for 1.5 mtpa of LNG, signed in March. The natural gas will be sourced from floating LNG (FLNG) vessels Delfin plans to deploy approximately 40 miles offshore Louisiana as part of its Delfin LNG project.
Boasting an export capacity of at least 20 mtpa, the CP2 LNG terminal will be situated near Venture Globalโs Calcasieu Pass LNG facility. The U.S. player is targeting its first LNG exports from CP2 in Q3 2027.ย
The plant is envisaged to have 36 liquefaction trains, configured in 18 blocks, each with a 0.626 mtpa capacity. There will also be four 200,000-cubic-meter full containment LNG storage tanks, and two marine loading berths.
According to Venture Global, approximately 11.5 mtpa of CP2 Phase 1 has now been sold, boosting the total contracted capacity for all of its projects to 41.5 mtpa.
Worley, which is in charge of the engineering, procurement, and construction (EPC) planning services for the project, recently said the start of work at the facility was edging closer.
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