FX.co ★ Uniper, ConocoPhillips Extend Long-term Gas Supply Deal In Northwest Europe

German energy giant Uniper SE announced on Friday that it has extended its long-term gas agreement with ConocoPhillips, aiming for the supply of up to 10 billion cubic meters of natural gas over the next decade.

This longstanding partnership will see ConocoPhillips supplying natural gas to Uniper in Northwest Europe, capitalizing on its existing pipeline infrastructure as well as its expanding Liquefied Natural Gas (LNG) capabilities.

"We are thrilled to unveil this significant deal, which represents a major victory for Uniper and plays a crucial role in energy security," commented Carsten Poppinga, Uniper's Chief Commercial Officer. "This agreement is designed to bolster the gas supply in Germany and Europe on a sustainable, long-term basis."

Khoa Dao, ConocoPhillips' Chief Commercial Officer, remarked that the agreement will further their growing LNG portfolio marketing initiatives and facilitate the delivery of essential gas supplies into Europe.

Uniper's robust gas portfolio services municipal utilities and industrial clients, encompassing pipeline gas, LNG, LNG regasification bookings, and gas storage solutions.

In Germany, Uniper's shares were trading at €43.93, marking a rise of 1.93 percent.