Eni today announced the signing of a long-term liquefied natural gas (LNG) supply agreement with Venture Global.

Eni will purchase 2 million tonnes per annum (MTPA) for 20 years with offtake starting by the end of the decade from Phase 1 of CP2 LNG. The facility, with a peak production capacity of 28 MTPA, is currently under development in Cameron Parish, Louisiana, United States.

The agreement is Eni’s first long term LNG supply from the United States and represents a significant milestone in Eni’s strategy to expand and diversify its global LNG footprint, enhancing portfolio flexibility. Part of these volumes will contribute to the diversification of Europe’s gas supplies.

Venture Global’s proven success in project delivery will support Eni’s ambitions to grow its LNG portfolio to approximately 20 MTPA of contracted volumes by 2030, and to expand its trading business while meeting the evolving needs of customers across key markets worldwide.