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ARLINGTON, Va., June 23, 2023 /PRNewswire/ -- Today, Venture Global LNG and SEFE Securing Energy for Europe GmbH (SEFE) announced the execution of a long-term Sales and Purchase Agreement (SPA). Under the agreement, SEFE's subsidiary, WINGAS GmbH, will purchase 2.25 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from CP2 LNG, Venture Global's third project, for 20 years.
"Venture Global is thrilled to begin a strategic partnership with SEFE, making our company the largest long-term LNG supplier to Germany," said Mike Sabel, CEO of Venture Global LNG. "SEFE is playing a leading role in ensuring security of energy supply for not only Germany but the rest of the European gas market. 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. We are honored to support a key U.S. ally in each of these efforts."
"By joining forces with Venture Global LNG, SEFE makes another important step on our mission to secure energy for German and European customers and meet the energy demand of the region. In delivering a substantial amount of the contracted capacity of CP2 LNG to European customers, we contribute to the further 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, 9.25MTPA of the 20MTPA nameplate capacity for CP2 has been sold with active discussions ongoing for the remaining capacity. Approximately 1/3 of the current offtake agreements are with German buyers, further underscoring the importance of CP2 LNG to Germany's long-term energy security.
About Venture Global LNG
Venture Global is a long-term, low-cost provider of U.S. LNG sourced from resource rich North American natural gas basins. Venture Global's first facility, Calcasieu Pass, commenced producing first LNG in January 2022. The company is also constructing or developing an additional 60 MTPA of production capacity in Louisiana to provide clean, affordable energy to the world. The company is developing Carbon Capture and Sequestration (CCS) projects at each of its LNG facilities.
About SEFE
SEFE Securing Energy for Europe GmbH (SEFE) is an integrated energy company owned by the Federal Republic of Germany that is active in 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 focusing on trading & portfolio management, sales, storage and pipeline infrastructure. SEFE plays a pivotal role in providing energy supply stability for Germany and Europe.
