Venture Global bags long-term LNG supply deal with BP

Venture Global bags long-term LNG supply deal with BP
Image courtesy of Venture Global LNG

Venture Global LNG, signed a deal with BP for the supply of two million tonnes per annum (mtpa) from its Calcasieu Pass LNG export facility, currently under development in Cameron Parish, Louisiana.

Under this agreement, BP will purchase LNG on a free on board basis (FOB) for a 20-year term starting from the commercial operation date of the Venture Global Calcasieu Pass LNG export facility, currently expected in 2022.

Speaking of the agreement, Mike Sabel and Bob Pender, co-CEOs of Venture Global LNG, it brings the total contracted quantity under binding 20-year SPAs to 6 MTPA., joining other LNG partners including Shell, Edison and Galp.

“As we finalize our arrangements for Calcasieu Pass and proceed towards financing, we have now begun to execute binding commitments for our Plaquemines project,” Sabel and Pender said.

Venture Global LNG is developing both the 10 mtpa Venture Global Calcasieu Pass facility on an approximately 1,000-acre site located at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico and the 20 mtpa Venture Global Plaquemines LNG facility in Plaquemines Parish, Louisiana on an approximately 630-acre site on the Mississippi River, 30 miles south of New Orleans, Louisiana.

Venture Global has raised $525 million of capital to-date to support the development of its projects.

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