ADNOC Gas PLC will supply Germany’s state-owned SEFE Securing Energy for Europe GmbH 700,000 metric tons a year of liquefied natural gas (LNG) for three years starting 2025, the companies said Thursday.
Abu Dhabi National Oil Co.’s gas processing and sales arm will source the LNG from the Das Island liquefaction facility, which has a capacity of six million metric tons per annum (MMtpa). The contract is valued about $400 million.
“Das Island’s LNG plant has shipped over 3,500 LNG cargoes worldwide since starting operations in 1977, strengthening ADNOC Gas’ long-term relationships with key global energy partners”, a joint statement said.
SEFE chief commercial officer Frederic Barnaud commented, “This new medium-term LNG contract builds on the long-term supply agreement with ADNOC that we signed last year, thereby adding another flexible source of LNG to our portfolio – to the benefit of both Europe’s security of supply and our global market trading activities”.
In November 2024, ADNOC and SEFE announced an agreement under which ADNOC will deliver one MMtpa of LNG from the Ruwais LNG project to SEFE for 15 years.
Targeted to start production 2028, the 9.6-MMtpa facility on the Persian Gulf coast would more than double ADNOC’s LNG output. ADNOC announced a positive final investment decision June 2024.
SEFE-Venture Global Deal
Separately on Wednesday SEFE and Venture Global Inc. said they had finalized an agreement to increase SEFE’s offtake from the CP2 LNG project in Cameron Parish, Louisiana, to three MMtpa. The deal adds 750,000 metric tons a year to their 2023 agreement.
“Venture Global is expected to become Germany’s largest LNG supplier, with a combined 5 MTPA [million metric tons per annum] of 20-year offtake agreements signed with SEFE and EnBW”, the Arlington, Virginia-based developer said in a statement online.
“In addition to its existing long-term agreements, Venture Global to date has supplied Germany with almost 80 cargoes of LNG from its Calcasieu Pass and Plaquemines LNG facilities, enough to power 8 million German homes for one year”.
Last month Venture Global said it had started site work at CP2 LNG after receiving final clearance from the Federal Energy Regulatory Commission. Venture Global expects to start up CP2 LNG in 2027.
In March the Department of Energy (DOE) conditionally allowed CP2 LNG to export to countries without a free trade agreement (FTA) with the United States. The project had already received authorization for the FTA portion of its request to export the equivalent of about 1.45 trillion cubic feet a year of natural gas, in a DOE order April 2022.
The DOE said it was withholding a final order for the non-FTA portion pending a review of permitting considerations launched by the previous administration.
In May the DOE said it was ready to proceed with issuing final orders on pending applications after delivering its verdict on the review initiated by the Biden government.
To contact the author, email jov.onsat@rigzone.com
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