Venture Global LNG enters into LNG sales and purchase agreement with BP

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.

Mike Sabel and Bob Pender, co-CEOs of Venture Global LNG, jointly announced “We are delighted that BP, one of the world’s leading international oil and gas companies, has committed to purchase 2 million tpy from our Calcasieu Pass LNG export facility, bringing our total contracted quantity under binding 20-year SPAs to 6 million tpy. BP joins Venture Global’s other world-class LNG partners, including Shell, Edison S.p.A. and Galp. As we finalise our arrangements for Calcasieu Pass and proceed towards financing, we have now begun to execute binding commitments for our Plaquemines project, which will also supply low-cost, long-term LNG to our global customers.”

Venture Global LNG is developing both the 10 million tpy Venture Global Calcasieu Pass facility on an approximately 1000-acre site located at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico and the 20 million tpy 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 US$525 million of capital to-date to support the development of its projects.

Read the article online at: https://www.lngindustry.com/liquefaction/22052018/venture-global-lng-enters-into-lng-sales-and-purchase-agreement-with-bp/