Venture Global Inks 20-Year LNG Deal with Chevron
Venture Global has executed two long-term sales and purchase agreements (SPAs) for the purchase of two million tonnes per annum (MTPA) of LNG for 20 years.
Under the agreements, Chevron will purchase 1 MTPA from the Plaquemines LNG facility and 1 MTPA from CP2 LNG. Plaquemines LNG has been under full construction since August of 2021 and the construction of CP2 LNG is expected to commence in 2023.
"Venture Global is delighted to begin a long-term LNG agreement with Chevron, one of the world's premier integrated energy companies," Mike Sabel, Venture Global CEO, said. "This is an outstanding addition to our growing customer portfolio at CP2. Our innovative and proven approach for the deployment of LNG trains enables us to deliver energy to our customers faster and at the lowest cost.”
Venture Global is preparing to roll out trains number 55 through 90 at CP2.
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