Venture Global in 20-year SPA with Germany’s SEFE

US LNG developer Venture Global LNG said June 22 it had signed a 20-year sales and purchase agreement with German state-owned SEFE Securing Energy for Europe for 2.5mn tonnes/year of LNG from the proposed Calcasieu Pass 2 (CP2) liquefaction project.

The deal will make Venture Global the largest LNG supplier to Germany, with 4.25mn tonnes/year of offtake agreements signed. About 9.25mn tonnes/year of the 20mn tonnes/year capacity of CP2 has been sold, a third of which will go to German customers.

Other CP2 customers include ExxonMobil, Chevron, JERA, New Fortress Energy, INPEX, China Gas and EnBW.

“SEFE is playing a leading role in ensuring security of energy supply for not only Germany but the rest of the European gas market,” Venture Global LNG CEO Mike Sabel said. “Germany has acted decisively to diversify its energy portfolio and LNG will be a vital part of that mix as it seeks to strengthen its energy security while at the same time advancing environmental progress.”

A decision on Venture Global’s application to the US Federal Energy Regulatory Commission (FERC) for the CP2 project and the accompanying CP Express pipeline is pending. FERC paused its review of the project last summer, but resumed that work later in 2022, and a draft environmental impact statement was issued in January.

Pending regulatory approvals, construction at CP2 is expected to begin this year, Venture Global said. It will be located adjacent to the existing Calcasieu Pass terminal in Cameron Parish, Louisiana.