October 23, 2024 [Storage Terminals Magazine]- EFE Securing Energy for Europe and ConocoPhillips have entered into a significant long-term natural gas agreement, with the first gas deliveries already completed. Under this new deal, ConocoPhillips will supply up to nine billion cubic metres of natural gas from its European portfolio to SEFE over the next ten years, delivering gas to various trading hubs across Europe.
ConocoPhillips, with its expanding European supply portfolio that includes Norwegian natural gas production and LNG imports, is well-positioned to meet SEFE’s needs. SEFE’s European customer base requires around 20 billion cubic metres of natural gas annually, making this partnership a strategic fit for both companies in balancing supply and demand.
Frederic Barnaud, chief commercial officer of SEFE, highlighted the significance of the collaboration, stating, “The long-term partnership between SEFE and ConocoPhillips is an important milestone in pursuing our ambition to diversify our natural gas portfolio. It demonstrates our commitment to securing energy supply for Europe.”
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