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ConocoPhillips and Uniper Extend Gas Supply Agreement

by Krystal

Uniper and ConocoPhillips have agreed to extend their long-term gas supply partnership, which will see the US energy giant provide up to 10 billion cubic meters of natural gas to the German company over the next decade. The partnership will focus on delivering pipeline gas to North-West Europe, as stated in a joint announcement by both companies.

The joint statement highlighted the strong, decades-long relationship between Uniper and ConocoPhillips, noting that this extension signifies a continuation of their successful collaboration. Despite the mention of liquefied natural gas (LNG) in the official statement, multiple US media sources have clarified that the deal specifically pertains to pipeline gas.

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Uniper has recently emphasized the need for Germany to issue new tenders for gas-fired power plants to facilitate the country’s transition away from coal, a goal set to be achieved by the end of the decade. Germany’s natural gas production represents a mere 0.1% of the global output, with the United States, Russia, and Iran being the top producers worldwide. Among Germany’s largest natural gas producers are ExxonMobil, Shell, and Neptune Energy Group. ExxonMobil led in production in 2023, although its output was 13% lower than in 2022.

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