Inpex Signs 20-Year LNG Deal with Venture Global
12/29/2022
(Reuters) — Inpex Corp., Japan's biggest oil and gas explorer, said on Tuesday that it has signed a long-term LNG sales and purchase agreement with U.S.-based Venture Global LNG.
Under the agreement, Inpex will buy one million tonnes per annum of LNG for 20 years on a free-on-board basis, Inpex said in a statement.
The agreement was signed between the subsidiaries of the two companies, INPEX Energy Trading Singapore Pte Ltd. (IETS) and Venture Global CP2 LNG LLC.
IETS will buy the LNG from Venture Global LNG's CP2 LNG project in Louisiana, which is expected to begin construction in 2023, according to Inpex's statement.
The LNG will be delivered to INPEX's Naoetsu LNG terminal and other terminals in Japan.
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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