German utility E.ON SE (EOAN.XE) confirmed Monday it has reached an agreement with Canada 's Pieridae Energy involving the delivery of liquefied natural gas, or LNG, from Canada , after The Wall Street Journal and other media agencies reported on the deal.

The exact financial details of the agreement weren't disclosed, but E.ON said the deal is worth several billion euros per year and is set for a period of 20 years.

E.ON also said the agreement is for around 5 million tons of LNG per year during the contract period.

The Wall Street Journal and other news agencies reported earlier Monday that company has reached an agreement on the delivery of LNG.

Earlier Monday, The Wall Street Journal reported that the delivery will start following the completion of an LNG terminal in Goldboro, on Canada 's east coast, which is planned to be finished in the first quarter of 2020. The terminal will handle a yearly volume of around 10 million tons of LNG, which will be pumped onto ships for export.

E.ON is generally heavily dependent on gas deliveries from Russia .

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