Venture Global and Germany's EnBW extend partnership with new LNG contracts

Venture Global announced on Wednesday that it has expanded its agreement with Germany's EnBW to supply liquefied gas of about 0.82 million metric tons per year for five years starting in 2026.

This agreement builds on earlier agreements between the two companies for a supply of?2 MTPA per annum over a period of 20 years as Germany and Europe strive to improve energy security.

This is Venture Global's sixth agreement with European buyers.

European utilities are increasingly locking in long-term LNG contracts, to secure their supply and reduce their exposure to volatile spot markets.

Venture Global, who began LNG production in Louisiana in 2022 is expanding capacity, including at Calcasieu -Pass, Plaquemines LNG, and CP2 LNG.

It has stated that its total?projects under construction, in operation and development exceed 100 MTPA. The company is also investing heavily in carbon capture related to its export plants.

Last week, U.S. 'exporter' said that it had doubled the agreed volumes in a revised deal with Greece’s?AtlanticSEE LNG Trade to supply at least one MTPA by 2030. (Reporting and editing by Leroy Leo in Bengaluru)

(source: Reuters)