Excelerate Energy and Venture Global announce SPA
Published by Jessica Casey,
Editor
LNG Industry,
Excelerate Energy, Inc. and Venture Global LNG have announced the execution of a 20-year LNG sales and purchase agreement (SPA). Under the SPA, Excelerate will purchase 0.7 million tpy of LNG on a free on board (FOB) basis from the Plaquemines LNG facility in Plaquemines Parish, Louisiana, the US.
“We are proud to enter this new strategic partnership with Venture Global, which supports our efforts to enhance energy security and accelerate the energy transition by delivering natural gas to our customers worldwide,” said Steven Kobos, President and CEO of Excelerate. “This agreement is an important milestone for Excelerate as we continue to execute our growth strategy. Building a diversified LNG supply portfolio with strong partners like Venture Global will allow us to offer more flexible and cost-effective products to existing and new customers in downstream markets.”
“Venture Global is thrilled to launch this new collaboration with Excelerate, a leader in the FSRU industry, as their inaugural long-term LNG supplier,” added Mike Sabel, CEO of Venture Global. “Their foresight and transformational work to bring much needed energy infrastructure to markets around the globe has enabled countries from Europe, the global south, and the developing world to fuel switch from coal to natural gas while lifting millions out of energy poverty. We look forward to many years ahead of working together as strategic partners to fuel these diverse markets worldwide.”
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/01032023/excelerate-energy-and-venture-global-announce-spa/
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