ConocoPhillips has signed a 15-year natural gas throughput deal, due to start from September 2031, to secure additional regasification capacity in Europe at the Gate LNG terminal in the Netherlands.
ConocoPhillips is an American multinational energy corporation engaged in hydrocarbon exploration and production. It is based in the Energy Corridor district of Houston, Texas. ConocoPhillips is one of the world’s largest independent E&P companies based on production and proved reserves. The company has operations in 15 countries and has production in the United States, Norway, Canada, Australia, Indonesia, Malaysia, Libya, China, and Qatar.
The deal will give ConocoPhillips access to 2.5 million tonnes per annum (mtpa) of regasification capacity at the Gate terminal, which is one of the largest LNG terminals in Europe.
ConocoPhillips says the deal will help it to meet the growing demand for LNG in Europe, particularly from the industrial sector.
According to Reuters, Bill Bullock, chief financial officer of ConocoPhillips said “Expanding our LNG footprint with agreements like this further enhances a balanced, diversified, and attractive portfolio as we progress our global LNG strategy,”.
ConocoPhillips was formed in 2002 through the merger of Conoco and Phillips Petroleum. The company has a long history of oil and gas exploration and production, dating back to the late 1800s.
ConocoPhillips is a major player in the global energy industry. The company produces approximately 1.7 million barrels of oil equivalent per day. ConocoPhillips also has a significant refining business, with a capacity of approximately 2.1 million barrels per day.
ConocoPhillips is committed to sustainable development. The company has set a goal to reduce its greenhouse gas emissions by 30% by 2030. ConocoPhillips is also investing in renewable energy technologies.
ConocoPhillips is an important player in the global energy industry and is committed to providing reliable and affordable energy to its customers.