The Italian oil company Eni announced a 20-year agreement with the American company Venture Global for the supply of two million tons of liquefied natural gas (LNG) annually.
“Eni will purchase 2 million tons per year (MTPA) for 20 years, with deliveries starting by the end of the decade from Phase 1 of the CP2 LNG project,” the company stated in a release published on its official website.
The Venture Global plant, located in the U.S. state of Louisiana, is currently under construction and will be capable of producing up to 28 million tons of gas annually upon completion.
This is Eni’s first long-term LNG supply agreement in the United States and signifies an important step in the Italian company’s strategy to expand and diversify its global LNG market presence, thus increasing its energy portfolio flexibility, noted the same release.
“Part of these volumes will contribute to the diversification of gas supply in Europe,” highlighted Eni, which aims to reach 20 MTPA of contracted LNG by 2030, while simultaneously strengthening its commercial activity in strategic markets worldwide.
