Venture Global signs LNG supply HoA with DTEK of Ukraine

Venture Global LNG Inc. and the commercial arm of DTEK Group, D. TRADING, have executed a heads of agreement (HoA) for the supply of US LNG to Ukraine and Eastern Europe.

The HoA provides that D. TRADING will purchase cargoes from Venture Global's 20-million tonne/year (tpy) Plaquemines LNG plant in Plaquemines Parish, La., beginning later this year through end-2026 to support near to medium term energy security needs for Ukraine and the broader Eastern European region, Venture Global said in a release June 13. 

Under the HoA, D. TRADING will also purchase up to 2 million tpy of LNG from Venture Global's 24-million tpy CP2 LNG plant in Cameron Parish, La., for 20 years.

In addition, the agreement calls for cooperation on opportunities to access regasification terminal capacity and gas pipeline capacity that provide an integrated and flexible transport path in the region.

To date, the initial phase of CP2 has been 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 and has launched off site construction of the project while it awaits project authorizations from US regulators. In the midst of a permitting pause by the Biden administration, Venture Global in February asked the US Federal Energy Regulatory Commission to approve construction, citing the project's advanced state—commercially and financially—and the noteworthiness of committed LNG offtakers.