Italian energy giant Eni has signed a significant 20-year agreement to purchase liquefied natural gas (LNG) from US-based Venture Global. Under the deal, Eni will acquire 2 million tonnes per annum (Mtpa) of LNG from Phase 1 of Venture Global’s CP2 LNG export project. Deliveries are scheduled to commence by the end of this decade.
The CP2 LNG facility, currently under development in Cameron Parish, Louisiana, is designed for a maximum production capacity of 28 Mtpa. Eni emphasized that this contract marks its first long-term LNG supply agreement from the United States, describing it as a “fundamental step” in the company’s strategy to expand and diversify its global LNG portfolio.
A portion of the LNG volumes acquired will contribute to enhancing the diversification of gas supplies to Europe. Eni highlighted Venture Global’s proven success in constructing liquefaction facilities, stating the partnership will support Eni’s ambition to grow its contracted LNG portfolio to approximately 20 Mtpa by 2030. The agreement will also bolster Eni’s trading activities to meet evolving customer demands across key global markets.