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Dec 14 (Reuters) – Germany’s state-owned Securing Energy for Europe GmbH (SEFE) is the third company to seek approval from the U. S. energy regulator for liquefied vegetable fuel (LNG) developer Venture Global to start construction of its CP2 LNG project. Louisiana.
SEFE’s letter to the U.S. Federal Energy Regulatory Commission (FERC), dated Monday, highlighted the role of the CP2 LNG project in securing Europe’s energy supply.
In June, SEFE, its Wagas unit, signed a 20-year agreement to procure 2. 25 million tonnes per annum (MTPA) of LNG from Venture Global’s proposed CP2 allocation of 20 MTPAs in Louisiana.
The call to FERC follows a similar request by two Japanese power companies, Inpex Corp and JERA, for Venture Global’s approval for the project’s structure.
“SEFE’s long-term LNG purchased from CP2 LNG will now be essential for Germany’s energy security in the new environment where pipeline material from Russia has stopped,” the company said in the letter.
The letter reiterated that Venture Global has already enabled the reliable supply of three LNG cargoes to SEFE so far in 2023, which arrived during a “critical period of Germany’s gas crisis”.
In addition to FERC approval, the CP2 LNG allocation is awaiting export authorization from the Department of Energy before structure can begin.
Venture Global LNG, which began work on the CP2 site in spring 2023, has contracts for almost part of the plant’s 20 MTPA capacity and expects the remainder to be sold before the end of 2023.
The company is involved in contract arbitration cases with several customers because it insists it doesn’t need to source products while its export plant in Calcasieu Pass, also in Louisiana, is up and running. (Reporting by Tina Parate in Bengaluru; editing by Janane Venkatraman)