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Venture Global and INPEX announce LNG SPA

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LNG Industry,


Venture Global LNG and INPEX Corp. have announced the execution of a long-term sales and purchase agreement (SPA) for the purchase of 1 million tpy of LNG for 20 years. Under the agreement, INPEX Energy Trading Singapore Pte. Ltd (IETS), a Singapore-based subsidiary of INPEX, will purchase 1 million tpy of LNG from CP2 LNG, Venture Global’s third project, which is expected to commence construction in 2023. INPEX joins other CP2 LNG customers including ExxonMobil, Chevron, EnBW, and New Fortress Energy.

“Venture Global is delighted to welcome INPEX, Japan’s largest gas exploration and production company, as a customer at CP2 and expand our customer base in Asia,” said Venture Global CEO, Mike Sabel. “We are honoured to provide security of LNG supply to this key market and look forward to supporting INPEX as it delivers our competitive lower carbon energy to the region.”

“This agreement will enable the INPEX Group to procure LNG from the US on a long-term basis, expand its LNG supply capacity, and diversify its supply sources to further contribute to the stable supply of energy,” added Hiroshi Kato, Executive Officer and Senior Vice President of Global Energy Marketing at INPEX.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/05012023/venture-global-and-inpex-announce-lng-spa/

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