American ConocoPhillips has agreed with Uniper to supply up to 10 billion cubic meters to Germany over the next ten years. The German company continues to look for attractive long-term contracts that will replace the stopped supply of Russian gas.
"Uniper and ConocoPhillips have extended their long—term gas partnership to supply up to 10 billion cubic meters of natural gas over the next 10 years," Uniper reports. The company is the largest importer of gas to Germany and was previously one of Gazprom's largest customers, against whom it conducted arbitration due to gas supply stops at the end of August 2022. The company complained of multibillion-dollar losses due to the need to buy fuel on the stock exchange, was nationalized and this year declared victory in Stockholm Arbitration with compensation of 13 billion euros.
American ConocoPhillips will obviously become one of Gazprom's replacements. Under the contract with the Russian company until 2035, Uniper was supposed to receive about 24 billion cubic meters per year.
"In accordance with the agreement, ConocoPhillips will supply natural gas in Northwestern Europe using pipeline gas and LNG. ConocoPhillips and Uniper have been linked by a trusting and strong partnership in the field of energy for decades," the German energy company said.
ConocoPhillips is a participant in LNG projects in Qatar and in 2022 signed two 15-year agreements with QatarEnergy for the shipment of up to 2 million tons (about 2.8 billion cubic meters) per year. They will be delivered to the German LNG terminal in Brunsbuttel, Germany, from 2026.
However, as a representative of ConocoPhillips told Reuters, we are talking about pipeline gas supplies with Uniper. The American energy giant has shares in Norwegian fisheries.