Venture Global's Asian LNG deals

ARLINGTON, Va. - Venture Global LNG and Petronas LNG Ltd. (PLL), a subsidiary of the Malaysian state-owned oil and gas company Petronas, announced May 11 the execution of a new 20-year Sales and Purchase Agreement (SPA) for 1M tons of liquefied natural gas (LNG) per year from Venture Global’s Plaquemines (La.) LNG facility. With this agreement, Venture Global announced the 20-year sales for 16 MTPA of the 20 MPTA capacity at Plaquemines LNG. The contract represents a “significant expansion of our existing customer base in Asia” and “look forward to bringing our competitive, lower carbon energy into Southeast Asia, a region with rapidly growing gas demand,” said Venture Global CEO Mike Sabel. (Source: Venture Global 05/11/22) Venture Global's first facility in Calcasieu Pass, La., began producing LNG in January.  The company is developing an additional 60 MTPA of production capacity in Louisiana to provide clean, affordable energy to the world. The company is developing Carbon Capture and Sequestration (CCS) projects at each of its LNG facilities. VENTURE GLOBAL AND PETRONAS ANNOUNCE SALES AND PURCHASE AGREEMENT • Venture Global LNG  

 

Venture signs two deals with ExxonMobile-Asia 

ARLINGTON, Va. - Venture Global LNG announced May 10 the execution of two new long-term Sales and Purchase Agreements (SPAs) with ExxonMobil LNG Asia Pacific (EMLAP) for the sale of 2M ton per annum (MTPA) of LNG. Under the agreements, the ExxonMobil affiliate will purchase 1 MTPA from the Plaquemines (La.) LNG facility as well as 1 MTPA from the CP2 LNG facility (CP2) on Monkey Island, between the Calcasieu Ship Channel and Calcasieu Pass. It’s the second supply agreement for CP2, which is expected to commence construction in 2023. Both facilities will replicate the same successful innovative design seen in Calcasieu Pass, where speed of execution resulted in the production of first LNG only 29 months. “We look forward to working with Venture Global” to grow ExxonMobil’s LNG portfolio and “progress our plans to reliably deliver natural gas from the U.S. Gulf Coast to global markets,” said Peter Clarke, senior vice president of LNG for the ExxonMobil Upstream Co. (Source: Venture Global 05/10/22)

Gulf Coast Note: The Gulf Coast is at the epicenter of the fossil fuel industry's push to increase natural gas exports across the globe. That would require building massive terminals and processing plants to super-cool gas to -260 degrees Fahrenheit, turning it into liquified natural gas, or LNG, so it can be transported by ship.

More than 20 facilities are proposed between Texas and Florida, according to the Federal Energy Regulatory Commission. If they are built, the facilities would be largely concentrated in southeast Texas and southwest Louisiana in areas already burdened by air pollution and climate-fueled storms. In just two Louisiana parishes, at least nine plants are planned, including three on the land near Calcasieu Point Landing.