Italian energy company agrees to buy 2 million metric tons of liquified natural gas per year for 20 years
The deal comes as President Donald Trump pressures Europe to import more from the United States to avoid tariffs.
"We are honored that Eni, a leading innovator and global gas player, has chosen Venture Global as their first American LNG supplier," said Venture Global CEO Mike Sabel. "Italy is an important ally and trading partner to the United States, and we are grateful for the trust of Eni as our newest customer. This deal marks a significant milestone for the company and is further recognition of our growing global energy leadership and strong record of execution."
Trump has pushed liquid natural gas as a way to avoid the trade war with the United States.
"I told the European Union that they must make up their tremendous deficit with the United States by the large-scale purchase of our oil and gas. Otherwise, it is TARIFFS all the way," he said in December.
Italian Prime Minister Giorgia Meloni recently met with Trump, and the president insisted that the purchase of liquid natural gas would have to be a priority to keep friendly relations between the two countries.
The deal is Eni's first long-term agreement with a U.S. liquid natural gas producer, according to a press release. To date, about 13.5 million tons per annum of CP2 LNG Phase One has been sold, raising the total contracted capacity for all of Venture Global's projects to 43.5 MTPA. Venture Global has already supplied Italy with nearly 40 cargoes of U.S. LNG from its Calcasieu Pass and Plaquemines LNG facilities in Louisiana.
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