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Venture Global and EnBW announce LNG sales and off-take agreement

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Arlington, Va. and Stuttgart, Germany (ots/PRNewswire) – Venture Global LNG and EnBW today announced the signing of two long-term sales and purchase agreements (SPAs) for 1.5 million metric tons per annum (MTPA) of liquefied natural gas (LNG) from Venture Global’s Plaquemines and CP2 facilities, beginning in 2026. Under the agreement, EnBW will purchase 0.75 MTPA from Plaquemines LNG and 0.75 MTPA from CP2 LNG for a period of 20 years. EnBW is the next European customer of Venture Global, which has already announced agreements with PGNiG, BP, Shell, Repsol, Edison and GALP.

“Venture Global is pleased to welcome EnBW as a long-term customer for both our Plaquemines and CP2 LNG facilities,” said Mike Sabel, CEO of Venture Global LNG. “This is the first direct binding offtake agreement for long-term U.S. LNG signed by a German company. It is an important step that illustrates Germany’s strategy to diversify its energy mix. Our company is honored to become a key LNG supplier to Germany and ensure security of supply on a competitive, long-term basis.”

“EnBW is looking forward to a long-term LNG partnership with Venture Global,” explained Georg Stamatelopoulos, Chief Operating Officer Generation & Trading at EnBW. “We have been expanding our LNG activities step by step in recent years. Liquefied natural gas plays a key role in diversifying our fuels for power and heat generation: This opens up the opportunity to use new sources to secure Germany’s gas supply in the current phase of the energy transition and builds a bridge to a green energy supply.”

Information on Venture Global LNG

Venture Global is a long-term, low-cost supplier of U.S. LNG sourced from resource-rich North American natural gas deposits. Venture Global’s first facility, Calcasieu Pass, began producing LNG in January 2022. In addition, the company is building or developing another 60 MTPA of production capacity in Louisiana to provide the world with clean, affordable energy. The company is developing carbon capture and absorption (CCS) projects at each of its LNG facilities.

www.venturegloballng.com

Information on EnBW

With more than 24,000 employees, EnBW is one of the largest energy companies in Germany and Europe. EnBW supplies around 5.5 million customers with electricity, gas, water as well as services and products from the infrastructure and energy sectors. The expansion of renewable energies is a cornerstone of the growth strategy and a focus of investment. EnBW will invest around 4 billion euros in the further expansion of wind and solar energy by 2025. By the end of 2025, more than half of the generation portfolio is to consist of renewable energies. This is already having a noticeable effect on the reduction of CO2 emissions, which EnBW aims to halve by 2030. EnBW is aiming for climate neutrality by 2035.

www.enbw.com

Photo –
https://mma.prnewswire.com/media/1844003/Photo_Credit_Venture_Global_
LNG.jpg

Investor Contact,
Venture Global: Leah Woodward,
Phone: +1 202 759-6746,
Email: [email protected],
Venture Global Media Contact: Shaylyn Hynes,
Phone: +1 202 920-0964,
Email: [email protected],
EnBW Energie Baden-Württemberg AG,
Corporate Communications,
Durlacher Allee 9376131 Karlsruhe,
Phone: 0721 63-255550,
Email: [email protected],
Website: www.enbw.com

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The post Venture Global and EnBW announce LNG sales and off-take agreement appeared first on TOP News Austria – News from Austria and around the world.

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