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ARLINGTON, Va. and STUTTGART, Germany, Oct. 6, 2022 /PRNewswire/ — Today, Venture Global LNG and EnBW introduced the growth of their current LNG partnership to 2 million tonnes every year (MTPA). Under the 20-year Sales and Purchase Agreements (SPAs) signed in June 2022, EnBW has elevated the amount of its long-term LNG offtake from Venture Global by an extra 0.5 MTPA from Plaquemines and CP2 LNG.
“Venture Global is delighted to be a growing strategic partner to Germany and EnBW, a foundation customer at both Plaquemines and CP2,” mentioned Venture Global CEO Mike Sabel. “The German government has taken swift action to address the energy crisis and we are honored to support their efforts by providing security of US LNG supply. Our company has pioneered the next generation of LNG plants, with a safe and low-cost model, enabling us to bring much needed supply to the global market years faster than ever done before. Our Gulf Coast facilities incorporate critical, world class European equipment, including liquefaction modules, gearboxes, steam turbines and more, supporting countless jobs across the continent.”
“To become less dependent on Russian natural gas and to strengthen diversification and security of supply, EnBW is supporting the German government by increasing further access to LNG supplies. For this reason, we have stepped up our procurement volumes from Venture Global”, defined Georg Stamatelopoulos, Chief Operating Officer Generation & Trading at EnBW. “With the help of LNG, we can secure Germany’s gasoline provide to allow the vitality transition, whereas not dropping sight of our local weather neutrality targets.
About Venture Global LNG
Venture Global is a long-term, low-cost supplier of U.S. LNG sourced from useful resource wealthy North American pure gasoline basins. Venture Global’s first facility, Calcasieu Pass, commenced producing LNG in January 2022. The firm can be setting up or growing an extra 60 MTPA of manufacturing capability in Louisiana to offer clear, reasonably priced vitality to the world. The firm is growing Carbon Capture and Sequestration (CCS) initiatives at every of its LNG services
www.venturegloballng.com
About EnBW
With over 26,000 workers, EnBW is one of the most important vitality firms in Germany and Europe. It provides round 5.5 million clients with electrical energy, gasoline, water in addition to companies and merchandise within the areas of infrastructure and vitality. The growth of renewable energies is a cornerstone of the expansion technique and a spotlight of funding. EnBW will make investments round 4 billion euros within the additional growth of wind and photo voltaic vitality by 2025.
By the top of 2025, greater than half of the era portfolio is to consist of renewable energies. This is already having a noticeable impact on lowering CO2 emissions, which EnBW goals to halve by 2030. EnBW is aiming for local weather neutrality by 2035.
www.enbw.com
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