Venture Global and Shell agree to amend LNG purchase agreement
Published by Will Owen,
Venture Global LNG, Inc. has announced that its subsidiary, Venture Global Calcasieu Pass, LLC, has agreed with Shell NA L to increase their existing sales and purchase agreement SPA, under which Shell will now purchase 2 million tpy of LNG from Venture Global Calcasieu Pass's LNG export facility under development in Cameron Parish, Louisiana.
Shell's commitment, together with an SPA previously executed by Venture Global Calcasieu Pass with Edison S.p.A., brings the facility's total committed capacity under binding, twenty-year FOB contracts to 3 million tpy.
Mike Sabel and Bob Pender, co-CEOs of Venture Global LNG, jointly announced that "Shell's additional purchase is a huge milestone, we believe a breakout event, and a significant validation of our best in class approach on our path to commencement of construction later this year. We are delighted that we continue to execute and achieve our development targets as we implement our strategy, alongside world-class partners, to become one of the lowest cost producers of LNG to the world's most important energy 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, approximately 30 miles south of New Orleans, Louisiana.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/06032018/venture-global-and-shell-agree-to-amend-lng-purchase-agreement/
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