ConocoPhillips, QatarEnergy Ink Two Deals To Supply Long-term LNG To Germany
(RTTNews) - Exploration and production company ConocoPhillips (COP) and QatarEnergy announced Monday that they have signed two agreements to supply long-term liquefied natural gas (LNG) to Germany.
The suppliers are joint venture companies established between ConocoPhillips and QatarEnergy to participate in the North Field East (NFE) and North Field South (NFS) projects Meanwhile, the buyer is a wholly owned subsidiary of ConocoPhillips.
The first delivery is expected in 2026 to the recently announced German LNG Terminal at Brunsbüttel.
These agreements will provide an attractive LNG offtake solution for ConocoPhillips' new joint ventures with QatarEnergy and position the joint ventures as reliable sources of LNG supply into Europe.
Through its joint ventures with QatarEnergy, ConocoPhillips holds a 3.125% interest in the NFE project and a 6.25% interest in the NFS project. The company has agreed to terminal services for a 15-year period at the German LNG Terminal.
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