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Venture Global & Shell agree to increase LNG purchase to 2 MMtpy

March 13/2018

MOSCOW (MRC)   Venture Global LNG, Inc. announced that its subsidiary, Venture Global Calcasieu Pass, LLC (Venture Global Calcasieu Pass), has agreed with Shell NA LNG LLC (Shell) to increase their existing sales and purchase agreement (SPA), under which Shell will now purchase 2 MMtpy of liquefied natural gas (LNG) from Venture Global Calcasieu Passs LNG export facility under development in Cameron Parish, Louisiana, as per Hydrocarbonprocessing.

Shells commitment, together with an SPA previously executed by Venture Global Calcasieu Pass with Edison S.p.A., brings the facilitys total committed capacity under binding, twenty-year FOB contracts to 3 MMtpy.

Mike Sabel and Bob Pender, co-CEOs of Venture Global LNG, jointly announced that Shells 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 worlds most important energy customers."

Venture Global LNG is developing both the 10 MMtpy 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 MMtpy 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.
Author:Anna Larionova
Category:General News
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