Italian energy company Eni has agreed to purchase liquefied natural gas (LNG) from the United States. Eni will purchase “2 million tonnes per annum (MTPA) for 20 years with offtake starting by the end of the decade,” the company announced.
The agreement is Eni’s first long-term LNG supply from the U.S., the company noted, and is a “significant milestone” in its strategy to “expand and diversify its global LNG footprint, enhancing portfolio flexibility.”
According to a statement from Venture Global, the agreement with the Italian company is Eni’s “first ever long-term agreement with a U.S. LNG producer.”
“We are honored that Eni, a leading innovator and global gas player, has chosen Venture Global as their first American LNG supplier,” Venture Global’s CEO, Mike Sabel, said in a statement. “Italy is an important ally and trading partner to the United States, and we are grateful for the trust of Eni as our newest customer. This deal marks a significant milestone for the company and is further recognition of our growing global energy leadership and strong record of execution.”
Venture Global also has an agreement with Germany and is expected to become its largest LNG supplier.
Last month, Japanese power company JERA Co. Inc. agreed to purchase up to 5.5 million tons of liquefied natural gas (LNG) across four 20-year agreements. The agreements are expected to support more than 50,000 U.S. jobs and contribute more than $200 billion to U.S. GDP.
Yukio Kani, the Global CEO and Chairman of Jera Co., Inc., said the agreements are a “true win-win and we want to thank President Trump for his leadership and commitment to unleash American energy – both of which were essential to completing these Agreements.”
