Milan, July 16 (LaPresse) – Eni has announced the signing of a long-term liquefied natural gas (LNG) supply agreement with Venture Global. The company will purchase two million tonnes per annum (MTPA) for 20 years from Phase 1 of the CP2 LNG liquefaction project, with deliveries starting by the end of the decade.
Venture Global's facility, currently under development in Cameron Parish, Louisiana, USA, will have a maximum production capacity of 28 MTPA. The agreement marks Eni’s first long-term LNG supply from the United States and represents a key step in the company’s strategy to expand and diversify its LNG portfolio.
Part of the volumes will contribute to the diversification of gas supplies in Europe. Eni notes that Venture Global’s proven success in developing liquefaction plants will support Eni in growing its LNG portfolio to around 20 MTPA of contracted volumes by 2030, and in expanding its trading activities to meet the evolving needs of customers in key global markets.