As part of the CP2 LNG project, the Italian oil company Eni signed a 20-year agreement with the US-based Venture Global for the purchase of 2 million tons of liquefied natural gas per year.

Eni announced this agreement last week in an official statement, indicating that the “Venture Global plant, located in Louisiana, USA, is currently under construction and will be able to produce up to 28 million tons of gas per year when completed.”

This agreement is Eni’s first long-term LNG supply agreement from the US and represents a key strategy in the Italian company’s strategy to expand and diversify its global presence in the LNG market, increasing the flexibility of its energy portfolio.

According to the Italian oil company, these deliveries will allow for the “diversification of gas supply in Europe.” In this regard, Eni plans to reach 20 MTPA of contracted LNG by 2030.

M.Pino

Source: swissinfo

(Reference image source: the blowup on Unsplash)

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