ARLINGTON, Va., May 10, 2022 /PRNewswire/ -- Today, Venture Global LNG announced the execution of two new long-term Sales and Purchase Agreements (SPAs) with ExxonMobil LNG Asia Pacific (EMLAP) for the sale of 2 million tonnes per annum (MTPA) of liquefied natural gas (LNG). Under the agreements, the ExxonMobil affiliate will purchase 1 MTPA from the Plaquemines LNG facility (Plaquemines) as well as 1 MTPA from the CP2 LNG facility (CP2). This is the second supply agreement for CP2, which is expected to commence construction in 2023. Both facilities will replicate the same successful innovative design seen in operation today at Calcasieu Pass, where speed of execution resulted in the production of first LNG only 29 months after FID.
"Venture Global is deeply honored that ExxonMobil has chosen to collaborate with our company across both of our next projects: Plaquemines and CP2" said Mike Sabel, CEO of Venture Global LNG. "As a global LNG leader, ExxonMobil's support for Venture Global's innovation and engineering execution is a defining moment for our combined teams and the wider LNG market. Venture Global looks forward to many years of collaboration between our companies to bring lower carbon energy to the world."
"LNG has an important role to play in helping society reduce emissions from industrial sectors," said Peter Clarke, senior vice president of LNG for the ExxonMobil Upstream Company. "We look forward to working with Venture Global as we continue to grow ExxonMobil's LNG portfolio and progress our plans to reliably deliver natural gas from the U.S. Gulf Coast to global markets."
About Venture Global LNG
Venture Global is a long-term, low-cost provider of U.S. LNG sourced from resource rich North American natural gas basins. Venture Global's first facility, Calcasieu Pass, commenced producing LNG in January 2022. The company is also constructing or developing an additional 60 MTPA of production capacity in Louisiana to provide clean, affordable energy to the world. The company is developing Carbon Capture and Sequestration (CCS) projects at each of its LNG facilities.
Cautionary Statement
Statements of future events or conditions in this release are forward-looking statements. The forward-looking statements contained herein speak only as of the date of this release.
