Complete News World

First long-term supply contract for US liquefied natural gas |  Economy |  DW

First long-term supply contract for US liquefied natural gas | Economy | DW

Energy group EnBW has secured a long-term supply of liquefied natural gas (LNG) from the US. Starting in 2026, Venture Global will buy 1.5 million tonnes of LNG annually, the Carlsruhe supplier and the US firm announced on Tuesday. The duration of the agreement is 20 years. With this deal, EnBW will become part of the European Venture Global customer base, which already includes industrial companies such as BP and Shell.

“This is the first direct contract for long-term US LNG signed by a German company and is an important step that illustrates the German strategy to diversify the energy mix,” announced Venture Global boss Mike Sabel. “At EnBW, we have gradually expanded our LNG operations in recent years,” explained George Stamadelopoulos, EnBW board member responsible for sustainable generation infrastructure.

LNG ship unloading terminal – here in Poland

“Bridge to Green Energy Supply”

Venture Global has been producing LNG at its first plant since January and is currently expanding its capacity in the US state of Louisiana. EnBW has gradually increased its LNG operations in recent years. After signing the contract with Venture Global, EnBW board member Stamatelopoulos stressed the importance of liquefied gas to diversify fuels for electricity and heat production: “It opens up the possibility of new sources to secure German gas supply. It creates a bridge to the energy transition and green energy supply.”

After the Russian attack on Ukraine, the European Union first decided to freeze coal imports from Russia, and then some oil imports. LNG has recently become the focus of politics and business, given that gas supplies from Russia have been cut in the meantime. Various projects for LNG delivery have been launched in Germany, from the temporary use of specialized vessels to the construction of several permanent terminals.

See also  Steep Roof Fall on All Red Wall Street - E24

hb/iw (rtr,dpa)