Venture Global LNG enters into LNG Sales and Purchase Agreement with Galp for 1 MMtpy
ARLINGTON, VIRGINIA – Venture Global Calcasieu Pass, LLC, a subsidiary of Venture Global LNG, Inc., and Galp, a Portuguese-based fully integrated energy player, have entered into a 20-year Sales and Purchase Agreement (SPA) for the supply of 1 MMtpy from the Venture Global Calcasieu Pass LNG export facility, currently under development in Cameron Parish, Louisiana, USA.
 |
| Venture Global Calcasieu Pass LNG export facility. Currently under development in Cameron Parish, Louisiana, USA. (Click image to enlarge) MAP SOURCE: EWA |
Under this agreement, Galp 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 upon Final Investment Decision (FID) and the satisfaction of other customary conditions precedent.
Mike Sabel and Bob Pender, co-CEOs of Venture Global LNG, jointly announced “We are very honored that Galp has signed this binding 20-year SPA with our company. Today’s execution follows the recent announcements of our binding 20-year sales agreements with Shell NA LNG LLC and Edison S.p.A., now totaling 4 MTPA. It is a privilege to become a long-term partner with Galp at this key moment as we finalize our arrangements with additional world-class partners for our Calcasieu Pass project.”
Venture Global LNG is developing both the 10 MTPA Venture Global Calcasieu Pass facility on an approximately 1,000-acre site located at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico and the 20 MTPA 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.
Comments