Germany Signs Long-Term U.S. LNG Deal To Replace Russian Gas

Sefe’s CEO, Egbert Laege, announced that Germany has signed a long-term deal with the U.S. to replace Russian gas with LNG from Venture Global LNG.

Germany’s state-controlled firm Securing Energy for Europe (Sefe) has signed a 20-year deal with Venture Global LNG to import 2.25 million tons of LNG per year from Venture Global’s third project, CP2 LNG, as Europe’s biggest economy is looking to secure gas supply after Russia stopped deliveries.   

Sefe, wholly owned by the German government, was created last year after Germany saved a former Gazprom unit it had expropriated in April with a multi-billion-euro loan. Gazprom Germania was renamed Securing Energy for Europe GmbH (Sefe), to secure energy supply to Germany and Europe, the government said last summer.  

“By joining forces with Venture Global LNG, SEFE makes another important step on our mission to secure energy for German and European customers and meet the energy demand of the region,” Sefe’s CEO Egbert Laege, said, commenting on the deal.

“Germany has acted decisively to diversify its energy portfolio and LNG will be a vital part of that mix as it seeks to strengthen its energy security while at the same time advancing environmental progress,” said Mike Sabel, CEO of Venture Global LNG.

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Reuters reported that Qatar Energy is ready to sign a new 27-year gas deal with China National Petroleum Corporation.

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