Venture Global secures two new sales agreement with ExxonMobil
The company will supply its partner a total of 2 million tonnes per annum of LNG, both from its Plaquemines and CP2 facilities.
Venture Global LNG announced the execution of two new long-term sales and purchase agreements with ExxonMobil LNG Asia Pacific for the sale of 2 million tonnes per annum (MTPA) of LNG. Under the agreements, the ExxonMobil affiliate will purchase 1 MTPA from the Plaquemines LNG facility as well as 1 MTPA from the CP2 LNG facility.
"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," said Mike Sabel, CEO of Venture Global LNG.
This is the second supply agreement for CP2, which is expected to commence construction in 2023. Both facilities will replicate the same design seen in operation today at Calcasieu Pass, where speed of execution resulted in the production of first LNG 29 months after the final investment decision.
"LNG has an important role to play in helping society reduce emissions from industrial sectors. 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," added Peter Clarke, Senior Vice president of LNG for ExxonMobil Upstream Oil & Gas Company.
The news comes two months after Venture Global secured a 20-year supply agreement with Shell from its Plaquemines facility. The decision involved a total of 2 million tonnes per annum of LNG, bringing the oil company’s total long-term offtake from Venture Global's facilities to 4 MTPA.
