Venture Global gains on agreement to supply more LNG to German firm from CP2 project

EnBW Energie Baden Wuerttemberg AG

09/07/2025 14:59

Updates

** Shares of LNG company Venture Global VG.N rise 1.8% to $16.04

** Company to supply additional 0.75 million tonnes per annum (mtpa) of liquefied natural gas to Germany-based distributor SEFE Energy GmbH from its Calcasieu Pass 2 (CP2) LNG project for 20 years

** Adds that this will increase total volume of LNG purchased by SEFE from CP2 LNG to 3.0 mtpa

** VG is expected to become Germany's largest LNG supplier, with combined 5 mtpa offtake 20-year agreements with German companies SEFE and Energie Baden Wuerttemberg AG EBKG.DE, company says

** To date, ~11.5 mtpa of CP2 Phase One has been sold, raising total contracted capacity for all of its projects to 41.5 mtpa, VG adds

** "We think this further supports recent commentary of strong global demand for long-term LNG contracts and expect VG could announce additional long-term SPAs for CP2 to achieve their targeted 2 to 5 MTPA of additional long-term SPAs at CP2," RBC Capital Markets analyst Elvira Scotto says

** Including session's moves, stock down over ~31% since NYSE debut in January

 (Reporting by Pooja Menon in Bengaluru)

 ((Pooja.Menon@thomsonreuters.com;))