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ConocoPhillips, Uniper reach 10-year natural gas supply deal

Justin Sullivan/Getty Images News ConocoPhillips (NYSE:COP) and Germany's Uniper (OTCPK:UNPRF) said Thursday they agreed on a supply deal for as much as 10B cm of natural gas over the next 10 years; financial terms were not disclosed. The agreement is for natural gas pipeline supply, not liquefied natural gas, a ConocoPhillips (COP) spokesperson told Reuters. The deal strengthens Conoco's (COP) energy business in Europe, where a massive shift has occurred since 2022 from dependence on Russian pipeline gas to securing other fuel sources such as LNG or pipeline gas from outside suppliers. \"The agreement also supports ConocoPhillips' increasing gas flows into Europe, where significant long-term regasification capacity commitments have been made including the German LNG, Gate and Zeebrugge terminals,\" the company said.

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