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Venture Global and EnBW Announce LNG Sales and Purchase Agreements

6/21/2022

Venture Global LNG - Press release

Venture Global LNG and EnBW announced the execution of two long-term Sales and Purchase Agreements (SPAs) for 1.5 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from Venture Global’s Plaquemines and CP2 facilities, starting 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 becomes the next European customer of Venture Global, who already announced agreements with PGNiG, BP, Shell, Repsol, Edison and GALP.

“Venture Global is thrilled 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 US LNG signed by a German company, an important step that manifests Germany’s strategy to diversify its energy mix. Our company is honored to become a major provider of LNG to Germany, providing security of supply on a competitive, long-term basis.”

“EnBW looks forward to a long-term LNG partnership with Venture Global”, says Georg Stamatelopoulos, Chief Operating Officer Generation & Trading at EnBW. “We have expanded our LNG activities step by step in the recent years. Liquefied natural gas plays a key role in the diversification of our fuels for electricity and heat generation: It opens up the possibility of new sources to secure Germany’s gas supply in the current energy transition phase and builds a bridge to a green energy supply.”