This is the first long-term LNG supply contract from the United States that has been signed by a German company. From 2026, Karlsruhe-based EnBW will import 1.5 million tons of LNG annually from US company Venture Global LNG. On Tuesday (June 21, 2022), the two companies announced the signing of a 20-year contract. Thus, the German interest will join the group of all Venture Global LNG customers in Europe, which already includes giants such as BP and Shell.
said Mike Sabel, President of Venture Global, quoted in a press release.
In turn, George Stamatilopoulos of the EnBW Board of Directors noted that EnBW has in recent years expanded its activities in the LNG sector step by step.
The first German LNG terminal will be built in Wilhelmshaven
A bridge to green energy
Venture Global has been producing LNG since January and is currently expanding its production capacity in the US state of Louisiana. EnBW has gradually expanded its activities in the LNG sector over the past years. After signing the agreement, Stamatelopoulos emphasized the importance of LNG to diversify the fuels used to produce electricity and heat.
– This opens the possibility of new sources of supply to supply Germany with gas in the transition period of the energy transition and creates assistance for the supply of green energy – assessment of a member of the Board of Directors of EnBW.
After the Russian invasion of Ukraine, the European Union first decided to end imports of coal from Russia, and then imposed a partial embargo on Russian oil. In light of the decline in gas supplies from Russia, the importance of LNG is increasing. Several LNG import projects, ranging from the use of floating LNG stations to the construction of several permanent gas stations, have been accelerated in Germany.
(RTR, DPA/Viewer)
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