Two long-term Sales and Purchase Agreements (SPAs) were signed by Venture Global for the purchase of 2 million tpy of LNG over 20 years, says an article published in LNG Industry.
Expected to commence
According to the contracts, Chevron U.S.A. Inc. will buy 1 million tpy each from the Plaquemines LNG facility and CP2 LNG.
While CP2 LNG construction is anticipated to start in 2023, Plaquemines LNG has been fully constructed since August of 2021.
Long-term agreement
“Venture Global is delighted to begin a long-term LNG agreement with Chevron, one of the world’s premier integrated energy companies,” said Venture Global CEO Mike Sabel.
“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. As we prepare to roll out trains number 55 through 90 at CP2, we are honoured that this competitive advantage has been recognised by Chevron.”
Lower carbon initiatives
“Our agreements with Venture Global allow Chevron to deliver affordable, reliable, and ever cleaner energy to meet long-term demand,” said Colin Parfitt, Chevron Vice President, Midstream.
“This is part of Chevron’s strategy to connect and strengthen relationships across the natural gas value chain – from natural gas production and lower carbon initiatives, to transportation, marketing and delivery to the customers who need it most.”
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Source: LNG Industry
