HOUSTON, Sept. 17, 2024 /PRNewswire/ -- Today, Venture Global announced the execution of a binding long-term terminal use agreement (TUA) with GASTRADE S.A. enabling the regasification and sale of liquefied natural gas (LNG) from Venture Global's terminals in Louisiana to markets in Central and Eastern Europe. Under the agreement, Venture Global has secured approximately 1 million tonnes per annum (MTPA) of LNG regasification capacity at the new Alexandroupolis LNG receiving terminal in Greece for five years, beginning in 2025. Venture Global's capacity will account for approximately 25% of the total terminal capacity, or approximately 12 cargoes annually.
The new Alexandroupolis LNG FSRU receiving terminal and South-North 'Vertical Corridor' will be essential to enhancing Central and Eastern European energy security by providing a new route to bring alternative supplies of natural gas into the region. Critical energy infrastructure projects in Greece have been supported in part by European co-funding as well as the United States Government through the Development Finance Corporation (DFC).
"Venture Global is thrilled to expand our European regasification capacity at Greece's new Alexandroupolis LNG terminal," said Venture Global CEO Mike Sabel. "This move further integrates our business by growing our assets across the LNG supply chain including LNG production, shipping and regasification. As a major point of entry for LNG into Central and Eastern Europe, this strategically important infrastructure will be a game changer for the region's ability to diversify their energy and access a secure and reliable energy supply. Venture Global is proud to support these efforts as a strategic partner with volumes from both Plaquemines LNG and the future CP2 LNG."
About Venture Global
Venture Global is a long-term, low-cost provider of U.S. LNG sourced from resource rich North American natural gas basins. Venture Global's first facility, Calcasieu Pass, commenced producing LNG in January 2022. The company's second facility, Plaquemines LNG, is under construction and expected to produce first LNG in 2024. The company is currently constructing and developing over 74 MTPA of nameplate production capacity to provide clean, affordable energy to the world. Venture Global is developing Carbon Capture and Sequestration (CCS) projects at each of its LNG facilities.
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