14 Jun 2024 11:22

DTEK, Venture Global sign agreement on LNG supplies to Eastern Europe

MOSCOW. June 14 (Interfax) - Venture Global, a U.S. liquefied natural gas (LNG) supplier, and D. Trading, the commercial division of Ukraine's DTEK Group have signed a comprehensive heads of agreement for LNG supplies to Eastern Europe, including Ukraine, Venture Global said in a press release on PRNewswire.

D. Trading "will purchase cargoes from Venture Global's Plaquemines LNG facility beginning later this year through the end of 2026 to support near to medium term energy security needs for Ukraine and the broader Eastern European region," Ukrainian media cited the press release as saying.

The agreement also provides that D. Trading will purchase up to 2 million tonnes of LNG per year from Venture Global's third facility, CP2 LNG, for 20 years, and calls for cooperation on opportunities to access regasification terminal capacity and gas pipeline capacity.

The future gas from CP2, which will be built next to Venture Global's existing Calcasieu Pass LNG plant in Louisiana, has been partially sold through 20-year sales and purchase agreements with ExxonMobil , Chevron , Jera, New Fortress Energy, Inpex, China Gas, SEFE and EnBW. Venture Global is in active discussions for the remaining capacity while it awaits project authorizations from U.S. regulators. CP2 will have 18 liquefaction trains, each with capacity of about 1.1 million tonnes of LNG per year.

DTEK was established in 2005 to manage the energy assets of Rinat Akhmetov's System Capital Management. D. Trading, which was set up in 2019 as the group's commercial arm, has offices in Amsterdam and Zagreb.