Venture Global Expands LNG Partnership with Germany's SEFE

Venture Global Inc. (NYSE:VG) is one of the best low priced energy stocks to buy now. On July 10, Venture Global and Securing Energy for Europe/SEFE announced an expansion of their liquefied natural gas/LNG partnership. The new agreement involves SEFE’s subsidiary, called SEFE Energy, purchasing an additional 0.75 million tonnes per annum/mtpa of LNG from Venture Global’s CP2 LNG project for 20 years.

The amendment builds upon an existing sales and purchase agreement/SPA signed in 2023, bringing SEFE’s total LNG purchase from CP2 LNG to 3 mtpa. Venture Global is projected to become Germany’s largest LNG supplier, having committed a combined total of 5 mtpa of LNG to German companies over 20-year offtake agreements, which include deals with SEFE and EnBW.

In addition to these long-term agreements, Venture Global has already supplied Germany with nearly 80 cargoes of LNG from its Calcasieu Pass and Plaquemines LNG facilities, which is enough to power 8 million German homes for one year. The CP2 LNG facility, Venture Global’s third project, will have a nameplate liquefaction capacity of 20 mtpa and will utilize single mixed refrigerant technology.

Venture Global Inc. (NYSE:VG) develops, constructs, and produces natural gas liquefaction and export projects near the US Gulf Coast in Louisiana.

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Disclosure: None. This article is originally published at Insider Monkey.