Venture Global LNG signed a 20-year purchase and sale agreement (PSA) with Germany’s state-owned company SEFE Securing Energy for Europe GmbH.

Under the agreement, SEFE's subsidiary WINGAS GmbH will acquire 2.25 million tonnes per annum (mtpa) of LNG from Venture Global’s third project, CP2 LNG, Venture Global LNG said June 22 in a press release.

With the deal, Venture Global LNG is set to become the largest LNG supplier to Germany, with a combined 4.25 mtpa of 20-year offtake agreements already signed.

“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,” Venture Global LNG CEO Mike Sabel said in the release.

The CP2 LNG terminal will be located on a 546-acre site in Cameron Parish, Louisiana. Construction is expected to commence in 2023, according to Venture Global LNG. When completed, the facility will have a nameplate liquefaction capacity of 20 mtpa and a peak capacity of 24 mtpa.

To date, 9.25 mtpa of CP2’s nameplate capacity has been sold, and active discussions continue for the remaining capacity. Beyond SEFE, customers signed on for future cargos include Exxon Mobil, Chevron, JERA, New Fortress Energy, INPEX, China Gas and EnBW.

Importantly for Europe, and Germany in particular, “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,” Venture Global LNG said in the release.

“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,” SEFE CEO Egbert Laege said in the release.

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