The US oil and gas company ConocoPhillips has started to supply gas to the German group Securing Energy for Europe (SEFE) following the signing of a long-term gas supply agreement. Under the deal, ConocoPhillips will supply up to 9 bcm of natural gas to SEFE over a ten-year period. The volumes will originate from ConocoPhillips’ European portfolio, which includes Norwegian piped gas and LNG imports.
In September 2024, ConocoPhillips signed another agreement with the German energy group Uniper to extend by 10 years their partnership for the supply of up to 10 bcm of natural gas to the German utility.
The European Union has relied more on American gas imports since the start of Russia’s invasion of Ukraine, which saw Russian gas supply to Europe dwindle. The US remained the largest supplier of LNG to the EU in 2023, accounting for nearly half of total LNG imports.