Uniper, an energy company headquartered in Germany, extended its gas partnership with ConocoPhilips, an exploration and production company, to provide up to 10 billion cubic meters of natural gas over the next ten years.
As part of the agreement, ConocoPhilips will supply Uniper with natural gas in Northwest Europe in addition to strengthening its present pipeline gas and growing its liquified natural gas (LNG) holdings.
Both firms have maintained their partnership for many years, and this extension further strengthens their collaboration in supplying energy to Germany and Europe.
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Carsten Poppinga, the CCO of Uniper, said, “We are excited to announce this significant deal, which is not only a great success for Uniper but also of central importance to energy security.”
He added, “This deal aims to enable us to sustainably strengthen the supply of gas in Germany and Europe on a long-term basis. This partnership is also a testament to our trustful cooperation. We are looking forward to further strengthen it and thereby create new opportunities.”
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Uniper provides a range of gas services to both industrial and municipal utilities, including pipeline gas, LNG regasification contracts, and gas storage capacities.
The corporation runs gas storage facilities that hold more than seven billion cubic meters of gas in total.
Uniper wants to produce more than 80% of its electricity capacity from carbon-free sources by 2030 and reach total carbon neutrality by 2040.
To meet these goals and increase its LNG positions, the company is modernizing its power plants and infrastructure and investing in dispatchable, flexible power-producing units.