Uniper and ConocoPhillips Extended Natural Gas Supply Contract
SEATTLE (Oil Monster): Uniper SE, headquartered in Germany, announced a ten-year extension of its natural gas supply agreement with ConocoPhillips. ConocoPhillips agreed to supply Uniper with up to 10 billion cubic meters of natural gas. Both companies have worked together on energy projects for almost four decades. Financial details about the deal were not provided.
According to Uniper's news release, the expansion of the two firms' long-standing and strong relationship will be a critical milestone in ensuring Germany and Europe's stable energy supply security.
Carsten Poppinga, CCO of Uniper, commented on the development, saying that the purchase is not just a triumph for the company, but also very important for energy security. It will ensure long-term gas supply stability. He noted that the partnership's renewal will open up new opportunities.
Khoa Dao, CCO of ConocoPhillips, stated that the business is glad to prolong its excellent cooperation with Uniper for the next decade. The arrangement will enable the corporation to expand its burgeoning LNG portfolio marketing initiatives. Furthermore, it will help the corporation increase its gas flows into Europe, according to Dao.
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