The logo of Italian multinational energy company Eni is displayed at their booth during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023.
This agreement marks Eni’s first long-term contract for LNG sourced from the United States. It follows a statement from Italian Prime Minister Giorgia Meloni in April, emphasizing Italy’s intent to strengthen trade ties with North America through increased U.S. LNG imports. The deal is part of Eni’s broader strategy to expand its LNG portfolio, aiming to secure approximately 20 million tons per year of contracted volumes by 2030 while growing its trading operations.
Eni highlighted that the agreement will contribute to diversifying Europe’s gas supply sources. An Eni spokesperson described the deal as “highly advantageous” for both companies, noting that Venture Global will become a significant supplier for the group. The spokesperson declined to comment on ongoing trade discussions between the European Union and the United States regarding potential 30% tariffs on EU exports to North America, stating: “We do not comment on the ongoing negotiations between the EU and the U.S. administration on tariffs.”
In a related development, Venture Global recently finalized another agreement to supply 0.75 million metric tons of LNG annually to SEFE Energy GmbH, a Germany-based distributor, further expanding its partnerships with European buyers. Eni’s agreement aligns with similar efforts by other Italian energy companies, such as Edison, which also procures LNG from the United States.
The collaboration between Venture Global and Eni reflects a mutual commitment to meeting Europe’s energy needs while fostering stronger commercial ties between the United States and Italy. The Calcasieu Pass 2 project is expected to play a key role in supporting these objectives, contributing to both regional energy security and Eni’s long-term growth strategy in the global LNG market.
