Deal Description: ConocoPhillips (NYSE: COP) today announced the signing of two agreements with QatarEnergy to supply long-term liquefied natural gas (LNG) to Germany. The suppliers are joint venture companies established between ConocoPhillips and QatarEnergy to participate in Qatar’s North Field East (NFE) and North Field South (NFS) projects, and the buyer is a wholly owned subsidiary of ConocoPhillips. First delivery is expected in 2026 to the recently announced German LNG Terminal at Brunsbüttel.
Through its joint ventures with QatarEnergy, ConocoPhillips holds a 3.125% interest in the NFE project and a 6.25% interest in the NFS project. The company has agreed to terminal services for a 15-year period at the German LNG Terminal.
Baker Botts represented ConocoPhillips in connection with the two agreements.
ConocoPhillips’ press release can be found here.
Baker Botts Lawyers/Offices Involved:
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