Le Lézard
Classified in: Oil industry, Business
Subjects: CON, CXP

Venture Global Announces Landmark Energy Security Agreement with DTEK of Ukraine

ARLINGTON, Va., June 13, 2024 /PRNewswire/ -- Today, Venture Global and D. TRADING (commercial arm of DTEK Group) announced the execution of a comprehensive Heads of Agreement (HOA) for the supply of U.S. liquefied natural gas (LNG) to Ukraine and Eastern Europe. The HOA provides that DTEK's subsidiary, 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. In addition, the HOA provides that D. TRADING will purchase up to 2 million tonnes per annum (MTPA) of LNG from Venture Global's third facility, CP2 LNG, for 20 years. The HOA also calls for cooperation on opportunities to access regasification terminal capacity and gas pipeline capacity that provide an integrated and flexible transport path to support the energy security of the region. 

"Venture Global is proud to partner with D. TRADING to support Ukrainian and Eastern European energy security by supplying short-term and long-term U.S. LNG from our Plaquemines and CP2 facilities. President Biden has committed to increasing LNG supply into Europe and Venture Global is pleased to be in a position to continue to support these efforts. With this landmark agreement, we will help bolster Ukraine's security of natural gas supply, aid continued recovery and economic growth in the region, and further strengthen European energy security," said Mike Sabel, CEO of Venture Global.

"At D.TRADING we believe that this Heads of Agreement marks a significant milestone in our commitment to support Ukraine and the EU in the process of decarbonization, as well as energy security for Europe. This partnership underscores a strong dedication to ensuring access to sustainable energy today and in the future." - Ivan Geliukh, D.TRADING CEO.

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 significant off site construction of the project while it awaits project authorizations from U.S. regulators. 

About Venture Global LNG

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 first LNG in January 2022.  The company is also constructing or developing an additional 60 MTPA of production capacity in Louisiana to provide clean, affordable energy to the world. The company is developing Carbon Capture and Sequestration (CCS) projects at each of its LNG facilities.


D.TRADING is a pan-European commodity trading company that combines a client-oriented business approach with cutting-edge technology. Operating from Europe for Europe, we understand the Central, Eastern and Southeastern Europe (CESEE) markets. The company was incorporated in 2019 as a commercial arm of DTEK Group. With the start of international expansion D.TRADING has established  strategic hubs in Amsterdam/NL, Zug/CH, Zagreb/CRO and Kyiv/UA. Today, D.TRADING teams manage business in 21 countries and work on 14 energy trading exchanges.

We use our advanced tools and technologies to tailor innovative commodity trading solutions, creating unique benefits for our customers and partners.


SOURCE Venture Global LNG

These press releases may also interest you

at 05:00
LanzaJet, a leading sustainable fuels technology company and sustainable fuels producer, today announced a strategic investment from Airbus, a worldwide leader at the forefront of the aviation industry. The investment enables LanzaJet to continue to...

at 04:30
The A2A Group, one of Italy's largest players in the energy transition, and Enfinity Global Inc, a leader in renewable energy, announced the signing of new 10-year Power Purchase Agreements (PPAs) in Italy for 134 MW of solar energy. The electricity...

at 03:00
Splight, an AI startup at the forefront of grid operations technologies, today announced the completion of its seed funding round. The $12M round was led by noa (formerly A/O) and joined by EDP Ventures, Elewit, Draper Cygnus, Draper B1, Ascent...

at 02:55
Opulent Maritime, a familiar name in marine fuel oil trading in Singapore with extensive expertise in shipbuilding various types of fuel tankers, has selected ADP Clear to enable its digital bunkering operations. With more than 3,000 bunker...

23 jui 2024
Summit Midstream Partners, LP ("Summit," "SMLP" or the "Partnership") announced today the results and the pricing terms of the previously announced cash tender offer (the "Tender Offer") by Summit Midstream Holdings, LLC ("Holdings") and Summit...

23 jui 2024
Organizers of Geo Week have announced the final few days of their Call for Speakers, which seeks professionals to present case studies on cutting-edge digitization projects, unique applications for lidar and geospatial technologies, and developing...

News published on and distributed by: