ARLINGTON, Va., June 23, 2023 /PRNewswire/ — Venture Global LNG and SEFE Seuring Energy for Europe GmbH (SEFE) today announced the execution of a long-term Sale and Purchase Agreement (SPA). Under the agreement, SEFE subsidiary WINGAS GmbH will purchase 2.25 million tonnes per year (MTPA) of liquefied natural gas (LNG) from CP2 LNG, Venture Global’s third project, for 20 years.
“Venture Global is delighted to enter into a strategic partnership with SEFE, making our company the largest long-term LNG provider in Germany,” said Mike Sabel, CEO of Venture Global LNG. “SEFE is playing a leading role in ensuring security of energy supply not only for Germany, but also for the rest of the European gas market. Germany has acted decisively to diversify its energy portfolio and LNG will be a part of that combination in their quest to strengthen their energy security while advancing environmental progress. We are honored to support a key ally of the United States in each of these efforts.”
“By joining forces with Venture Global LNG, SEFE takes another important step in our mission to secure power for German and European customers and meet the region’s power demand. By delivering a substantial amount of contracted CP2 LNG capacity to the European customers, we contribute to a greater diversification and sustainability of the European energy supply,” said Egbert Laege, CEO of SEFE.
SEFE, a German state-owned company, joins other CP2 LNG customers including ExxonMobil, Chevron, JERA, New Fortress Energy, INPEX, China Gas and EnBW. To date, 9.25 MTPA of the 20 MTPA nominal capacity for CP2 has been sold and active discussions are underway for the remaining capacity. Approximately 1/3 of current purchase agreements are with German buyers, further underscoring the importance of CP2 LNG to Germany’s long-term energy security.
About Venture Global LNGVenture Global is a long-term, low-cost supplier of US LNG from resource-rich North American natural gas basins. Venture Global’s first facility, Calcasieu Pass, began producing its first LNG in January 2022. The company is also building or developing an additional 60 MTPA production capacity in Louisiana to provide affordable clean energy to the world. The company is developing Carbon Capture and Sequestration (CCS) projects at each of its LNG facilities.
About SEFESEFE Seuring Energy for Europe GmbH (SEFE) is an integrated energy company owned by the Federal Republic of Germany that is active at various stages along the value chain. Headquartered in Berlin, Germany, the company with more than 1,500 employees has its strongest presence in Germany, supplying industrial customers and municipal utilities. SEFE is a midstream company that focuses on marketing and portfolio management, sales, warehousing, and pipeline infrastructure. SEFE plays a fundamental role in providing stability in the energy supply for Germany and Europe.
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