Page 234 - ΝΑΥΤΙΚΑ ΧΡΟΝΙΚΑ - SEPT 2025

Commodities
The Middle East
is on track to surpass
Asia and become the
world’s second-largest
gas producer in 2025,
ranking only behind
North America.
232
will come from new projects that can ing global energy leadership and strong
produce gas at a cost-effective level record of execution”, said Mike Sabel,
of less than $5 per thousand cubic CEO of Venture Global.
feet. The Gulf trio of Qatar, the UAE, Eni joins a growing number of world-
and Saudi Arabia are leading this gas- class LNG customers for CP2 in Europe,
driven growth, with Qatar’s ambitious Asia, and the rest of the world. Accord-
North Field expansion set to elevate its ingly, CP2 is a strategically important
LNG capacity by 80%, from 77 to 142 project for global energy supply and
million tonnes per annum (mtpa) by the security.
decade’s end, all while maintaining a
competitive breakeven price of under TotalEnergies & CMA CGM launch LNG
$6 per MMBtu. bunkering logistics joint venture in Rot-
By 2028, the region is expected to add terdam
new capacity of 60 mtpa, representing TotalEnergies and CMA CGM Group
a sizable portion of Rystad Energy’s have entered into an agreement to
predicted global increase of 150 mtpa. develop a 50/50 logistics joint venture
Qatar is leading this expansion, adding dedicated to the implementation and
48 mtpa through its North Field East operation of an LNG bunker supply
and North Field South projects. The UAE solution at the port of Rotterdam, in
will contribute an additional 10 mtpa the Netherlands. This strategic part-
from the Ruwais LNG project, while nership reflects the shared ambition of
TotalEnergies is developing the Marsa both French companies to work jointly
LNG project with a capacity of 1 mtpa towards the acceleration of the energy
in Oman. Rystad Energy projects these transition in the maritime sector.
developments to involve investments of Expanding LNG infrastructure in Europe
more than $50 billion, highlighting the As part of this new logistics joint ven-
region's strategic effort to strengthen its ture, a new 20,000 cubic-meter LNG
position in the global LNG market. bunker vessel will be positioned in Rot-
terdam by the end of 2028 and jointly
Venture Global and Eni announce operated. The CMA CGM-TotalEnergies
20-year LNG Sales and Purchase Agree- joint venture will offer a complete logis-
ment tics service, from reload access at Gate
Venture Global, Inc. and the Italian terminal facilities to LNG bunker deliv-
company Eni S.P.A. announced the ery to a wide range of vessels operating
execution of a new 20-year Sales and in the Amsterdam-Rotterdam-Antwerp
Purchase Agreement (SPA) for the pur- (ARA) region, including those of CMA
chase of 2 mtpa of LNG from CP2 LNG, CGM as well as other shipping operators.
Venture Global’s third project. This deal The joint venture will capitalise on
marks Eni’s first-ever long-term agree- TotalEnergies’ established logistics
ment with a US LNG producer. To date, infrastructure in the ARA region, where
approximately 13.5 mtpa of CP2 Phase the 18,600 m³ LNG bunker vessel Gas
One has been sold, raising the total Agility has been in operation since 2020.
contracted capacity for all of Venture By integrating the joint venture’s future
Global’s projects to 43.5 mtpa. To date, LNG bunker vessel with Gas Agility, the
Venture Global has supplied Italy with partnership aims to create synergies that
nearly 40 cargoes of US LNG from its enhance delivery flexibility and boost
Calcasieu Pass and Plaquemines LNG operational efficiency across the region.
facilities.
“We are honoured that Eni, a leading A long-term LNG supply agreement
innovator and global gas player, has cho- To support CMA CGM’s goal of reach-
sen Venture Global as their first Amer- ing net-zero carbon emissions by 2050
ican LNG supplier. Italy is an important and ensure the supply of its dual-fuel
ally and trading partner to the United LNG-powered fleet, which will grow to
States, and we are grateful for Eni’s trust 123 vessels by 2029, TotalEnergies will
as our newest customer. This deal marks supply CMA CGM with up to 360,000
a significant milestone for the company tonnes of LNG annually, from 2028
and is further recognition of our grow- onwards and until 2040.
NX