Chevron to buy Venture Global LNG

North American liquified natural gas (LNG) producer Venture Global has executed two long-term Sales and Purchase Agreements (SPAs) for the purchase of 2M tons of LNG annually for 20 years. Under the agreements, Chevron would purchase 1 MTPA from the Plaquemines LNG facility and 1 MTPA from CP2 LNG. Both sites are in south Louisiana. Plaquemines LNG has been under full construction since August 2021. Construction of CP2 LNG is expected to begin next year. “This is part of Chevron’s strategy to connect and strengthen relationships across the natural gas value chain – from natural gas production and lower carbon initiatives to transportation, marketing, and delivery to the customers who need it most,” Colin Parfitt, Chevron Vice President of Midstream, stated. Plaquemines LNG is an export facility in Plaquemines Parish, La., about 20 miles south of New Orleans. When fully developed, Plaquemines LNG will have an export capacity of up to 20M metric tons per year. The CP2 LNG project will entail an LNG terminal with a nameplate liquefaction capacity of 20M metric tons per of LNG per year and a peak capacity of approximately 24 MTPA. The CP2 LNG terminal will be located on an a 546-acre site in Cameron Parish, La. The pipeline for the terminal will originate in Jasper County, Texas, and feed natural gas to the proposed LNG facility in Cameron Parish. Venture Global’s first facility, Calcasieu Pass, La., began producing LNG in January 2022. All of Venture Global’s LNG facilities will have carbon capture and sequestration projects. (Source: Venture Global 06/23/22) Chevron to buy LNG from two Venture Global facilities in Louisiana | Business | theadvocate.com