Latest news with #MikeSabel
Yahoo
5 days ago
- Business
- Yahoo
Venture Global signs 20-year LNG agreement with Eni
Venture Global has entered a 20-year sales and purchase agreement (SPA) with Eni, the Italian energy company's first long-term contract with a US liquefied natural gas (LNG) producer. The agreement entails the purchase of two million tonnes per annum (mtpa) of LNG from Venture Global's CP2 LNG project. The CP2 LNG facility, with a nameplate capacity of 20mtpa, is being developed adjacent to Venture Global's Calcasieu Pass LNG facility in Cameron Parish, Louisiana. The deal will bolster Eni's goal to expand its LNG portfolio to around 20mtpa of contracted volumes by 2030, while growing its trading business and addressing the changing demands of customers in key global markets. Eni said in a statement: 'The agreement is Eni's first long-term LNG supply from the United States and represents a significant milestone in Eni's strategy to expand and diversify its global LNG footprint, enhancing portfolio flexibility. Part of these volumes will contribute to the diversification of Europe's gas supplies.' The deal with Eni contributes to the 13.5mtpa of CP2 phase one already sold, bringing Venture Global's total contracted capacity to 43.5mtpa. Venture Global's portfolio of LNG customers continues to expand across Europe, Asia and other regions. Venture Global CEO Mike Sabel said: 'We are honoured that Eni, a leading innovator and global gas player, has chosen Venture Global as their first American LNG supplier. 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.' In addition to the Eni agreement, Venture Global has signed a deal with a Securing Energy for Europe subsidiary to purchase an additional 750,000 tonnes per annum of LNG from the CP2 LNG project for 20 years. "Venture Global signs 20-year LNG agreement with Eni" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
7 days ago
- Business
- Business Wire
Venture Global and Eni Announce 20-Year LNG Sales and Purchase Agreement
ARLINGTON, Va.--(BUSINESS WIRE)--Today, Venture Global, Inc. (NYSE: VG) and Eni S.P.A. of Italy announced the execution of a new Sales and Purchase Agreement (SPA) for the purchase of 2 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from CP2 LNG, Venture Global's third project, for 20 years. This deal marks Eni's first ever long-term agreement with a U.S. 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. To date, Venture Global has supplied Italy with nearly 40 cargoes of U.S. LNG from its Calcasieu Pass and Plaquemines LNG facilities. Venture Global and Eni S.P.A. announced the execution of a new SPA for the purchase of 2 MTPA of LNG for 20 years from CP2 LNG. This deal marks Eni's first ever long-term agreement with a U.S. LNG producer. Share 'We are honored that Eni, a leading innovator and global gas player, has chosen Venture Global as their first American LNG supplier. 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,' said Mike Sabel, CEO of Venture Global. Eni joins a growing number of world-class LNG customers for CP2 in Europe, Asia and the rest of the world. Accordingly, CP2 is a strategically important project to global energy supply and security. About Venture Global Venture Global is an American producer and exporter of low-cost U.S. liquefied natural gas (LNG) with over 100 MTPA of capacity in production, construction, or development. Venture Global began producing LNG from its first facility in 2022 and is now one of the largest LNG exporters in the United States. The company's vertically integrated business includes assets across the LNG supply chain including LNG production, natural gas transport, shipping and regasification. The company's first three projects, Calcasieu Pass, Plaquemines LNG, and CP2 LNG, are located in Louisiana along the Gulf of America. Venture Global is developing Carbon Capture and Sequestration projects at each of its LNG facilities. About Eni Eni is a global energy tech company that aims to produce and sell increasingly decarbonized and customer-oriented energy products and services by the best available technologies and the constant search for cutting-edge solutions. Headquartered in Italy and with operations in over 60 countries, Eni is active across the whole value chain of the energy sector: from hydrocarbon exploration and production, to trading, refining, biorefining, CCS, power generation also from renewable sources, as well as research and development including in game-changing technologies such as fusion energy. Forward-looking Statements This press release contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the 'Securities Act'), and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'). All statements, other than statements of historical facts, included herein are 'forward-looking statements.' In some cases, forward-looking statements can be identified by terminology such as 'may,' 'might,' 'will,' 'could,' 'should,' 'expect,' 'plan,' 'project,' 'intend,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'potential,' 'pursue,' 'target,' 'continue,' the negative of such terms or other comparable terminology. These forward-looking statements, which are subject to risks, uncertainties and assumptions about us, may include statements about our future performance, our contracts, our anticipated growth strategies and anticipated trends impacting our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Those factors include our need for significant additional capital to construct and complete future projects and related assets, and our potential inability to secure such financing on acceptable terms, or at all; our potential inability to accurately estimate costs for our projects, and the risk that the construction and operations of natural gas pipelines and pipeline connections for our projects suffer cost overruns and delays related to obtaining regulatory approvals, development risks, labor costs, unavailability of skilled workers, operational hazards and other risks; the uncertainty regarding the future of global trade dynamics, international trade agreements and the United States' position on international trade, including the effects of tariffs; our dependence on our EPC and other contractors for the successful completion of our projects, including the potential inability of our contractors to perform their obligations under their contracts; various economic and political factors, including opposition by environmental or other public interest groups, or the lack of local government and community support required for our projects, which could negatively affect the permitting status, timing or overall development, construction and operation of our projects; and risks related to other factors discussed under 'Item 1A.—Risk Factors' of our annual report on Form 10-K for the year ended December 31, 2024 as filed with the Securities and Exchange Commission ('SEC') and any subsequent reports filed with the SEC. Any forward-looking statements contained herein speak only as of the date of this press release and are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements to reflect subsequent events or circumstances, except as may be required by law.
National Post
7 days ago
- Business
- National Post
Venture Global and Eni Announce 20-Year LNG Sales and Purchase Agreement
Article content ARLINGTON, Va. — Today, Venture Global, Inc. (NYSE: VG) and Eni S.P.A. of Italy announced the execution of a new Sales and Purchase Agreement (SPA) for the purchase of 2 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from CP2 LNG, Venture Global's third project, for 20 years. This deal marks Eni's first ever long-term agreement with a U.S. 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. To date, Venture Global has supplied Italy with nearly 40 cargoes of U.S. LNG from its Calcasieu Pass and Plaquemines LNG facilities. Article content 'We are honored that Eni, a leading innovator and global gas player, has chosen Venture Global as their first American LNG supplier. 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,' said Mike Sabel, CEO of Venture Global. Eni joins a growing number of world-class LNG customers for CP2 in Europe, Asia and the rest of the world. Accordingly, CP2 is a strategically important project to global energy supply and security. Article content Article content About Venture Global Article content Venture Global is an American producer and exporter of low-cost U.S. liquefied natural gas (LNG) with over 100 MTPA of capacity in production, construction, or development. Venture Global began producing LNG from its first facility in 2022 and is now one of the largest LNG exporters in the United States. The company's vertically integrated business includes assets across the LNG supply chain including LNG production, natural gas transport, shipping and regasification. The company's first three projects, Calcasieu Pass, Plaquemines LNG, and CP2 LNG, are located in Louisiana along the Gulf of America. Venture Global is developing Carbon Capture and Sequestration projects at each of its LNG facilities. Article content About Eni Article content Eni is a global energy tech company that aims to produce and sell increasingly decarbonized and customer-oriented energy products and services by the best available technologies and the constant search for cutting-edge solutions. Headquartered in Italy and with operations in over 60 countries, Eni is active across the whole value chain of the energy sector: from hydrocarbon exploration and production, to trading, refining, biorefining, CCS, power generation also from renewable sources, as well as research and development including in game-changing technologies such as fusion energy. Article content Forward-looking Statements Article content This press release contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the 'Securities Act'), and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'). All statements, other than statements of historical facts, included herein are 'forward-looking statements.' In some cases, forward-looking statements can be identified by terminology such as 'may,' 'might,' 'will,' 'could,' 'should,' 'expect,' 'plan,' 'project,' 'intend,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'potential,' 'pursue,' 'target,' 'continue,' the negative of such terms or other comparable terminology. Article content These forward-looking statements, which are subject to risks, uncertainties and assumptions about us, may include statements about our future performance, our contracts, our anticipated growth strategies and anticipated trends impacting our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Those factors include our need for significant additional capital to construct and complete future projects and related assets, and our potential inability to secure such financing on acceptable terms, or at all; our potential inability to accurately estimate costs for our projects, and the risk that the construction and operations of natural gas pipelines and pipeline connections for our projects suffer cost overruns and delays related to obtaining regulatory approvals, development risks, labor costs, unavailability of skilled workers, operational hazards and other risks; the uncertainty regarding the future of global trade dynamics, international trade agreements and the United States' position on international trade, including the effects of tariffs; our dependence on our EPC and other contractors for the successful completion of our projects, including the potential inability of our contractors to perform their obligations under their contracts; various economic and political factors, including opposition by environmental or other public interest groups, or the lack of local government and community support required for our projects, which could negatively affect the permitting status, timing or overall development, construction and operation of our projects; and risks related to other factors discussed under 'Item 1A.—Risk Factors' of our annual report on Form 10-K for the year ended December 31, 2024 as filed with the Securities and Exchange Commission ('SEC') and any subsequent reports filed with the SEC. Article content Any forward-looking statements contained herein speak only as of the date of this press release and are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements to reflect subsequent events or circumstances, except as may be required by law. Article content Article content Article content Article content Contacts Article content Venture Global Contacts
Business Upturn
09-07-2025
- Business
- Business Upturn
Venture Global and SEFE Announce Expansion of LNG Partnership
Business Wire India Today, Venture Global, Inc. (NYSE: VG) and Securing Energy for Europe GmbH (SEFE) announced the finalization of an agreement under which SEFE's subsidiary, SEFE Energy GmbH, will purchase an additional 0.75 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from CP2 LNG, Venture Global's third project, for 20 years. Today's announcement amends the existing Sales and Purchase Agreement signed by the companies in 2023, increasing the total volume of LNG purchased by SEFE from CP2 LNG to 3.0 MTPA. Venture Global is expected to become Germany's largest LNG supplier, with a combined 5 MTPA of 20-year offtake agreements signed with SEFE and EnBW. 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. 'Venture Global is thrilled to expand our strategic partnership with Germany and SEFE and play a leading role in ensuring security of energy supply and affordability for not only Germany but the rest of the European gas market,' said Mike Sabel, CEO of Venture Global. SEFE, a German state-owned company, is among numerous, world-class LNG customers for CP2 in Europe, Asia and the rest of the world. Accordingly, CP2 is a strategically important project to global energy supply and security. To date, approximately 11.5 MTPA of CP2 Phase One has been sold, raising the total contracted capacity for all of Venture Global's projects to 41.5 MTPA. About Venture Global Venture Global is a long-term, low-cost provider of U.S. LNG sourced from resource rich North American natural gas basins. Venture Global's business includes assets across the LNG supply chain including LNG production, natural gas transport, shipping and regasification. Venture Global's first facility, Calcasieu Pass, commenced producing LNG in January 2022 and achieved commercial operations in April 2025. The company's second facility, Plaquemines LNG, achieved first production of LNG in December 2024. The company is currently constructing and developing over 100 MTPA of nameplate production capacity to provide clean, affordable energy to the world. Venture Global is developing Carbon Capture and Sequestration projects at each of its LNG facilities. About SEFE SEFE Securing Energy for Europe GmbH (SEFE) is an integrated energy company owned by the Federal Republic of Germany that is active in various stages along the value chain. Headquartered in Berlin, Germany, the company with more than 1,500 employees has its strongest presence in Germany, supplying industrial customers and municipal utilities. SEFE is a midstream company focusing on trading & portfolio management, sales, storage and pipeline infrastructure. SEFE plays a pivotal role in providing energy supply stability for Germany and Europe. Forward-looking Statements This press release contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the 'Securities Act'), and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'). All statements, other than statements of historical facts, included herein are 'forward-looking statements.' In some cases, forward-looking statements can be identified by terminology such as 'may,' 'might,' 'will,' 'could,' 'should,' 'expect,' 'plan,' 'project,' 'intend,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'potential,' 'pursue,' 'target,' 'continue,' the negative of such terms or other comparable terminology. These forward-looking statements, which are subject to risks, uncertainties and assumptions about us, may include statements about our future performance, our contracts, our anticipated growth strategies and anticipated trends impacting our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Those factors include our need for significant additional capital to construct and complete future projects and related assets, and our potential inability to secure such financing on acceptable terms, or at all; our potential inability to accurately estimate costs for our projects, and the risk that the construction and operations of natural gas pipelines and pipeline connections for our projects suffer cost overruns and delays related to obtaining regulatory approvals, development risks, labor costs, unavailability of skilled workers, operational hazards and other risks; the uncertainty regarding the future of global trade dynamics, international trade agreements and the United States' position on international trade, including the effects of tariffs; our dependence on our EPC and other contractors for the successful completion of our projects, including the potential inability of our contractors to perform their obligations under their contracts; various economic and political factors, including opposition by environmental or other public interest groups, or the lack of local government and community support required for our projects, which could negatively affect the permitting status, timing or overall development, construction and operation of our projects; and risks related to other factors discussed under 'Item 1A.—Risk Factors' of our annual report on Form 10-K for the year ended December 31, 2024 as filed with the Securities and Exchange Commission ('SEC') and any subsequent reports filed with the SEC. Any forward-looking statements contained herein speak only as of the date of this press release and are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements to reflect subsequent events or circumstances, except as may be required by law. View source version on Disclaimer: The above press release comes to you under an arrangement with Business Wire India. Business Upturn take no editorial responsibility for the same. Ahmedabad Plane Crash
National Post
09-07-2025
- Business
- National Post
Venture Global and SEFE Announce Expansion of LNG Partnership
Article content ARLINGTON, Va. — Today, Venture Global, Inc. (NYSE: VG) and Securing Energy for Europe GmbH (SEFE) announced the finalization of an agreement under which SEFE's subsidiary, SEFE Energy GmbH, will purchase an additional 0.75 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from CP2 LNG, Venture Global's third project, for 20 years. Today's announcement amends the existing Sales and Purchase Agreement signed by the companies in 2023, increasing the total volume of LNG purchased by SEFE from CP2 LNG to 3.0 MTPA. Article content Venture Global is expected to become Germany's largest LNG supplier, with a combined 5 MTPA of 20-year offtake agreements signed with SEFE and EnBW. 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. Article content 'Venture Global is thrilled to expand our strategic partnership with Germany and SEFE and play a leading role in ensuring security of energy supply and affordability for not only Germany but the rest of the European gas market,' said Mike Sabel, CEO of Venture Global. SEFE, a German state-owned company, is among numerous, world-class LNG customers for CP2 in Europe, Asia and the rest of the world. Accordingly, CP2 is a strategically important project to global energy supply and security. To date, approximately 11.5 MTPA of CP2 Phase One has been sold, raising the total contracted capacity for all of Venture Global's projects to 41.5 MTPA. Article content About Venture Global Article content Venture Global is a long-term, low-cost provider of U.S. LNG sourced from resource rich North American natural gas basins. Venture Global's business includes assets across the LNG supply chain including LNG production, natural gas transport, shipping and regasification. Venture Global's first facility, Calcasieu Pass, commenced producing LNG in January 2022 and achieved commercial operations in April 2025. The company's second facility, Plaquemines LNG, achieved first production of LNG in December 2024. The company is currently constructing and developing over 100 MTPA of nameplate production capacity to provide clean, affordable energy to the world. Venture Global is developing Carbon Capture and Sequestration projects at each of its LNG facilities. Article content About SEFE Article content SEFE Securing Energy for Europe GmbH (SEFE) is an integrated energy company owned by the Federal Republic of Germany that is active in various stages along the value chain. Headquartered in Berlin, Germany, the company with more than 1,500 employees has its strongest presence in Germany, supplying industrial customers and municipal utilities. SEFE is a midstream company focusing on trading & portfolio management, sales, storage and pipeline infrastructure. SEFE plays a pivotal role in providing energy supply stability for Germany and Europe. Article content Forward-looking Statements Article content This press release contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the 'Securities Act'), and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'). All statements, other than statements of historical facts, included herein are 'forward-looking statements.' In some cases, forward-looking statements can be identified by terminology such as 'may,' 'might,' 'will,' 'could,' 'should,' 'expect,' 'plan,' 'project,' 'intend,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'potential,' 'pursue,' 'target,' 'continue,' the negative of such terms or other comparable terminology. Article content These forward-looking statements, which are subject to risks, uncertainties and assumptions about us, may include statements about our future performance, our contracts, our anticipated growth strategies and anticipated trends impacting our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Those factors include our need for significant additional capital to construct and complete future projects and related assets, and our potential inability to secure such financing on acceptable terms, or at all; our potential inability to accurately estimate costs for our projects, and the risk that the construction and operations of natural gas pipelines and pipeline connections for our projects suffer cost overruns and delays related to obtaining regulatory approvals, development risks, labor costs, unavailability of skilled workers, operational hazards and other risks; the uncertainty regarding the future of global trade dynamics, international trade agreements and the United States' position on international trade, including the effects of tariffs; our dependence on our EPC and other contractors for the successful completion of our projects, including the potential inability of our contractors to perform their obligations under their contracts; various economic and political factors, including opposition by environmental or other public interest groups, or the lack of local government and community support required for our projects, which could negatively affect the permitting status, timing or overall development, construction and operation of our projects; and risks related to other factors discussed under 'Item 1A.—Risk Factors' of our annual report on Form 10-K for the year ended December 31, 2024 as filed with the Securities and Exchange Commission ('SEC') and any subsequent reports filed with the SEC. Article content Article content Article content Article content Article content Contacts Article content Venture Global Contacts
