Venture Global and ATLANTIC-SEE LNG Expand Contract to 1 Million Tonnes
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5 days ago
0mins
The company states: "Venture Globa and ATLANTIC - SEE LNG TRADE S.A. of Greece announced an expansion of their existing Sales and Purchase Agreement for the purchase of U.S. liquefied natural gas from Venture Global for twenty years starting in 2030. Under the deal, Atlantic-SEE is doubling their existing contract with Venture Global from a minimum of 0.5 million tonnes per annum (MTPA) to 1.0 million tonnes per annum. Atlantic-SEE LNG is a newly formed joint venture announced in November at the 6th Partnership for Transatlantic Energy Cooperation conference hosted in Athens, Greece between Greek companies AKTOR Group and DEPA Commercial. The announcement of this expanded supply agreement follows Venture Global's previously announced investment in regasification capacity at the Alexandroupolis LNG import terminal in Greece, which currently accounts for approximately 25% of the terminal's total capacity. The Alexandroupolis LNG FSRU receiving terminal and South-North 'Vertical Corridor' will be essential to enhancing Central and Eastern European energy security by providing a new route to bring affordable and reliable U.S. natural gas into the region."
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Analyst Views on VG
Wall Street analysts forecast VG stock price to fall
9 Analyst Rating
5 Buy
4 Hold
0 Sell
Moderate Buy
Current: 11.700
Low
8.00
Averages
11.13
High
16.00
Current: 11.700
Low
8.00
Averages
11.13
High
16.00
About VG
Venture Global, Inc. is a provider of the United States liquefied natural gas (LNG) sourced from North American natural gas basins. The Company's business includes assets across the LNG supply chain, including LNG production, natural gas transport, shipping and regasification. The Company sells LNG and is engaged in the operation, construction, and development of natural gas liquefaction and export facilities in North America (LNG projects). Each LNG project includes a liquefaction facility and export terminal and one or more associated pipelines that interconnect with several interstate and intrastate pipelines for delivery of natural gas into the associated liquefaction facility and export terminal. The Company has multiple segments, including the Company's five LNG projects: the Calcasieu Project, the Plaquemines Project, the CP2 Project, the CP3 Project and the Delta Project, and its direct sales and shipping (DS&S) business and pipeline activities.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Legal Service Commitment: Purcell & Lefkowitz LLP is dedicated to representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty, and other corporate misconduct, demonstrating their expertise in protecting shareholder interests.
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- Legal Service Commitment: Purcell & Lefkowitz LLP is dedicated to representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty, and other corporate misconduct, demonstrating their expertise in protecting shareholder interests.
- Contact Information: Shareholders seeking more information can contact attorney Robert H. Lefkowitz via email or phone, with the firm promising personal consultations at no cost, enhancing the accessibility and transparency of their services.
See More
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- Valuation Warning: With a current market value of $2.2 trillion and sales of $19.3 billion, SpaceX's stock trades at an exorbitant valuation of approximately 115 times sales, significantly higher than Palantir's 59 times, indicating that such a premium is unsustainable and could lead to future price corrections.
- Market Prospects and Challenges: While SpaceX has unique advantages in building orbital AI data centers, its high valuation and the general caution surrounding large IPOs create uncertainty regarding its future growth, necessitating careful risk-reward assessments by investors.
See More
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- Market Prospects and Challenges: While SpaceX has a unique advantage in building orbital AI data centers that could effectively address power and cooling issues faced by terrestrial data centers, its high valuation and uncertain market performance necessitate cautious evaluation of its long-term investment value.
See More
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- Investment Context: This expanded agreement builds on Venture Global's investment in regasification capacity at the Alexandroupolis LNG import terminal in Greece, which currently accounts for approximately 25% of the terminal's total capacity, positioning it as a critical gateway for U.S. gas into Southeastern Europe.
- Energy Security Enhancement: The Alexandroupolis LNG FSRU receiving terminal and the South-North
See More
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- Successful Bond Offering: Venture Global has successfully completed a $2.25 billion bond offering, which includes 6.375% senior secured notes due 2034 and 6.625% senior secured notes due 2036, indicating strong market support for its financing needs.
- Debt Restructuring Strategy: The proceeds from this offering will be used to redeem the existing 8.125% senior secured notes due 2028, demonstrating the company's proactive approach to optimizing its capital structure to reduce financing costs and enhance financial flexibility.
- Guarantee Arrangements: Although the notes are initially not guaranteed by subsidiaries, certain subsidiaries will provide guarantees under specific conditions in the future, which will enhance investor confidence in the debt's security and facilitate future financing capabilities for the company.
- Market Compliance: The notes were not registered under the Securities Act, indicating the company's strategic use of capital market tools while adhering to legal regulations to support the expansion and development of its LNG business.
See More
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- Supply Agreement Expansion: U.S. LNG exporter Venture Global and Greece's Atlantic-SEE LNG Trade announced a doubling of volumes under their long-term supply agreement, committing to supply at least 1 million metric tons per annum starting in 2030 for 20 years, significantly enhancing Europe's energy security.
- Regional Supply Diversification: The joint venture Atlantic-SEE, formed by AKTOR Group and DEPA Commercial, plans to import LNG into Greece and distribute it across Central and Eastern Europe via the 'Vertical Corridor' network, aimed at diversifying regional gas supply routes and reducing reliance on single sources.
- Long-term Contract Lock-in: European buyers are actively securing long-term LNG contracts to mitigate exposure to volatile spot markets following supply disruptions linked to geopolitical tensions, thereby ensuring stable energy supplies and boosting market confidence.
- Infrastructure Investment: This agreement builds on Venture Global's investment in regasification capacity at the Alexandroupolis LNG import terminal, which holds about 25% of the capacity in the region, further solidifying its role as a gateway for U.S. gas into southeastern Europe.
See More
