ConocoPhillips has announced further progress on its global LNG strategy, signing a commercial agreement to secure additional regasification capacity in Europe at the Gate LNG terminal in the Netherlands, Report informs via LNG Industry.
This agreement further complements the company’s foundational LNG resource positions in Qatar and Australia, offtake and equity in Sempra’s recently sanctioned Port Arthur LNG Phase 1 project on the US Gulf Coast, regasification agreement at the German LNG Terminal announced last year, and the offtake agreements at Mexico Pacific’s Saguaro LNG export facility on the west coast of Mexico announced in August 2023.
“Adding capacity at the Gate LNG terminal fits well with our efforts to deliver reliable, lower-carbon energy into Europe from highly competitive LNG supply,” said Bill Bullock, Executive Vice President and Chief Financial Officer of ConocoPhillips. “Expanding our LNG footprint with agreements like this further enhances a balanced, diversified, and attractive portfolio as we progress our global LNG strategy.”
Gate Terminal B.V., a joint venture of Vopak and Gasunie, is an LNG hub at the Port of Rotterdam that contributes to the natural gas supply in the Netherlands and northwest Europe. The terminal began operations in 2011.