Venture Global signs 20-year LNG SPA with Eni

Italy’s Eni has signed a 20-year LNG sales and purchase agreement with Venture Global – which is beginning to ramp up the contracts for its CP2 LNG project.

The deal involves the purchase of 2 million tonnes per annum (mtpa) from Venture Global’s third project, and marks Eni’s first long-term agreement with a US LNG producer.

To date, approximately 13.5 mtpa of CP2 Phase One has been sold, raising the total contracted capacity for all of Venture Global’s projects to 43.5 mtpa.

Venture Global has supplied Italy with nearly 40 cargoes of US LNG from its Calcasieu Pass and Plaquemines LNG facilities.

The latest agreement follows Securing Energy for Europe subsidiary, SEFE Energy, announcing last week it would buy an additional 0.75 mtpa of LNG from CP2 LNG.

The terminal will be located on a 1,150-acre site. The CP Express pipeline will originate in Jasper and Newton County, Texas and feed natural gas to the facility in Cameron Parish.

In March, Venture Global unveiled $18bn expansion plans for Plaquemines in Louisiana, which will raise capacity to 45 mtpa.

Eni recently teamed up with UAE-based Khazna Data Centers to develop a 500MW AI data center campus in Ferrera Erbognone, Lombardy.

The campus will be fed by ‘blue power’ supplied by Eni, involving a low-carbon electricity source generated by a gas power plant designed to capture CO2 emissions.