Fri Sep 20 07:30:00 UTC 2024: ## ConocoPhillips Inks 10-Year Gas Deal With German Uniper, Boosting US Energy Exports

**Berlin/Houston** – ConocoPhillips has signed a deal to supply up to 10 billion cubic meters of natural gas annually to German energy giant Uniper for a period of 10 years, further solidifying the United States’ role as a major energy supplier to Europe.

The agreement, specifically for pipeline gas rather than LNG, will see ConocoPhillips deliver gas to Northwest Europe, utilizing its existing infrastructure and expanding LNG presence. “The agreement supports ConocoPhillips’ increasing gas flows into Europe, where significant long-term regasification capacity commitments have been made,” a spokesperson for ConocoPhillips said.

Uniper, which earlier this week urged Germany to prioritize new natural gas capacity, described the deal as a crucial step towards securing long-term gas supply for the country and Europe. “This deal aims to enable us to sustainably strengthen the supply of gas in Germany and Europe on a long-term basis,” said Uniper’s COO Carsten Poppinga.

While the move signifies a boost for US energy exports and addresses Europe’s energy security concerns, some experts raise concerns about the potential for stranded assets. A climate think tank expressed worry about Germany’s ambitious LNG import capacity plans, arguing that demand may be peaking and could lead to excess capacity.

The deal comes amidst a complex geopolitical landscape, with the United States seeking to counter Russia’s energy dominance in Europe. The agreement also highlights the ongoing efforts to diversify energy sources and address the transition to cleaner energy sources.

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