Venture Global to supply additional LNG to German firm from Calcasieu Pass 2
By Katha Kalia
July 9 (Reuters) - Venture Global VG.N will supply an additional 0.75 million tonnes per annum of liquefied natural gas to Germany-based distributor SEFE Energy GmbH, the two companies said on Wednesday.
Shares of the U.S. LNG producer rose 1.7% in morning trade.
Venture Global will supply the LNG from Calcasieu Pass 2 (CP2) project for 20 years, bringing the total volume of purchase by SEFE - short for Securing Energy for Europe - to 3 mtpa.
"We expect Venture Global could announce additional long-term supply purchase agreements for CP2 to achieve their targeted 2-5 mtpa of additional long-term SPAs at CP2," said Elvira Scotto, analyst at Capital Markets.
Scotto added that any additional agreements could be positive catalysts for the stock, which is down about 33% since its listing in January.
Venture Global's CP2 project - which has a capacity of 20 mtpa and is set to deliver its first LNG in 2027 - will be the single-largest export facility of the superchilled gas in the U.S.
The company is expected to become Germany's largest LNG supplier, with a combined 5 mtpa offtake 20-year agreements with German companies SEFE and Energie Baden Wuerttemberg AG EBKG.DE.
Related Articles
Fed Rate Cut Finally Arrives,Dollar Index: Negative Catalysts Largely Priced In,Euro Rally May Be Running Out of Steam
Tradingkey - The Federal Reserve lowered the target range for the federal funds rate by 25 basis points to 4.00%–4.25% late yesterday, as widely expected, and signaled two additional rate cuts this year.
[U.S. IPO] Netskope Raises $908 Million in IPO, Debuts Thursday: A Rising Star in Cloud Security?
TradingKey - Backed by venture capital firm Lightspeed Venture Partners, Netskope Inc., a technology provider specializing in securing enterprise cloud services, has raised $908.2 million in its IPO. The company's valuation now exceeds $7 billion. Netskope is set to list on the Nasdaq under the tick-24998ce9215f4781a8d3878dba968c9e.jpg)
Why the September Fed Meeting Feels So Strange? The Answer Lies with Miran, Cook and Trump
TradingKey - Beyond analyzing whether the updated dot plot after the Fed’s rate decision reflects a dovish or hawkish tilt, investors are increasingly curious about what will become of the Federal Reserve amid political interference, personnel changes, and potential institutional shifts. The Wall
[U.S. IPO] Oilfield Water Giant WaterBridge Raises $634M in IPO; Can It Repeat LandBridge's 125% Surge?
TradingKey - Oil field water management company WaterBridge (WBI) announced on September 16 that its US initial public offering (IPO) is expected to price 31.7 million shares at $20 per share, raising a total of $634 million.
September Global Central Bank Divergence: How Will U.S. Stocks and Forex Markets Move?
TradingKey - Despite the divergence in monetary policies among major global central banks in September (with the Federal Reserve cutting rates while the European Central Bank, Bank of England, and Bank of Japan maintain steady rates), we expect the policy directions of the Fed, ECB, and BoE to...
