Houston-based ConocoPhillips has signed another deal securing more capacity to move volumes from its growing LNG supply portfolio into Europe as the continent continues to replace Russian imports. 

The independent said it booked 2 billion cubic meters (Bcm) annually, or roughly 70 Bcf/year of regasification capacity at the Gate import terminal in the Netherlands, one of the largest facilities in Europe. The agreement gives the company liquefied natural gas import capacity for 15 years beginning in 2031.

“Adding capacity at the Gate LNG terminal fits well with our efforts to deliver reliable, lower-carbon energy into Europe from highly competitive LNG supply,” said CFO Bill Bullock. “Expanding our LNG footprint with agreements like this further enhances a balanced,...