Venture Global, EnBW Ink LNG Sales And Purchase Deals - Repsol (OTC:REPYY), Galp Energia SGPS (OTC:GLPEY)

U.S. LNG export project developer Venture Global and German energy company EnBW have signed two long-term sales and purchase agreements for 1.5 million tonnes per annum (mtpa) of LNG.
The LNG will come from Venture Global’s Plaquemines and CP2 facilities, starting in 2026.
According to the agreement, EnBW will purchase 0.75 mtpa from Plaquemines LNG and 0.75 mtpa from CP2 LNG for 20 years.
EnBW has become the next European customer of Venture Global, which has already announced agreements with PGNiG, BP plc BP, Shell plc SHEL, Repsol REPYF, Edison International EIX, and GALP GLPEF.
Venture Global’s first facility Calcasieu Pass started producing LNG in January 2022.
The company is also developing an additional 60 mtpa of production capacity in Louisiana. In addition, it is developing carbon capture and sequestration projects at each of its LNG facilities.
Wall Street Journal reports that last week, Russia cut supplies to Europe as it faced economic sanctions from Western nations.
The report added that Germany would restart coal-burning power plants and offer incentives for companies to reduce gas consumption as it seeks to build up gas inventories ahead of winter.
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