Venture Global LNG said that its subsidiary, Venture Global Calcasieu Pass has entered into a deal to sell one million tonnes per annum of liquefied natural gas to Shell from its export facility under development in Cameron Parish, Louisiana.
The deal has a term of twenty years commencing on the commercial operation date of the Venture Global Calcasieu Pass facility with a Shell option to extend the term, Venture Global LNG said in a statement on Monday.
Under the sales and purchase agreement, Shell will buy LNG on a free on board basis (FOB) for a purchase price indexed to the monthly Henry Hub price plus a facility fee indexed to inflation.
Venture Global LNG is developing both the 10 MTPA Venture Global Calcasieu Pass facility 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.
LNG World News Staff