Under the SPA, Atlantic–See LNG Trade will purchase a minimum of 0.5 million tonnes per annum (mtpa) of US LNG from Venture Global for twenty years starting in 2030.
Venture Global said in a statement that Atlantic-See has the potential to expand its purchase commitment.
The new joint venture was announced this week at the 6th Partnership for Transatlantic Energy Cooperation (PTEC) conference hosted in Athens.
Venture Global did not say from which facility the supplies would come.
The company operates the Calcasieu Pass plant in Louisiana, the Plaquemines LNG facility, which is under commissioning, and the CP2 LNG project in Louisiana, on which it took FID earlier this year.
Venture Global said the announcement of this supply agreement follows its previously announced investment in regasification capacity at Gastrade’s Alexandroupolis FSRU-based LNG import terminal in Greece, which currently accounts for approximately 25 percent of the terminal’s total capacity.
The Alexandroupolis FSRU-based terminal and South-North ‘Vertical Corridor’ will be “essential to enhancing Central and Eastern European energy security by providing a new route to bring affordable and reliable US natural gas into the region,” the company said.
Greece’s Gastrade recently received the first LNG cargo at its FSRU-based terminal in Alexandroupolis following a technical issue in January this year.
“Venture Global is thrilled to expand our energy partnership with Greece and bring additional LNG supply to this critical region,” said Venture Global CEO Mike Sabel.
“As a major point of entry for US LNG into Central and Eastern Europe, this strategically important infrastructure and SPA agreement are key to strengthening the region’s ability to diversify their energy mix and access a secure and reliable source of supply. We are excited to grow our partnership with key regional players such as the newly formed Atlantic-See LNG,” he said.
