PR Newswire
22 Jun 2022, 18:26 GMT+10
ARLINGTON, Va., June 22, 2022 /PRNewswire/ -- Today Venture Global announced the execution of two long-term Sales and Purchase Agreements (SPAs) for the purchase of two million tonnes per annum (2MTPA) of liquefied natural gas (LNG) for 20 years. Under the agreements, Chevron U.S.A. Inc. will purchase 1MTPA from the Plaquemines LNG facility and 1MTPA 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," 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 honored that this competitive advantage has been recognized by Chevron."
"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."
Venture Global is a long-term, low-cost provider of U.S. LNG sourced from resource rich North American natural gas basins. Venture Global's first facility, Calcasieu Pass, commenced producing LNG in January 2022. The company is also constructing or developing an additional 60 MTPA of production capacity in Louisiana to provide clean, affordable energy to the world. The company is developing Carbon Capture and Sequestration (CCS) projects at each of its LNG facilities.
SOURCE Venture Global LNG
Get a daily dose of Malaysia Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Malaysia Sun.
More InformationWASHINGTON, D.C.: President Donald Trump says the United States could soon reach a trade deal with India. He believes this deal would...
The delay adds yet another twist to Trump's original 90 deals in 90 days promise -- so far yielding only two vague trade agreements...
New Delhi [India], July 9 (ANI): The Operations Cell of South West District police has apprehended five Bangladeshi nationals, including...
Washington DC [US], July 9 (ANI): The US State Department on Tuesday (local time) criticised India's stance on the US playing no role...
Dhaka [Bangladesh], July 9 (ANI): The United States Trade Representative (USTR) has invited Bangladesh to the second round of negotiations...
Pallekele [Sri Lanka], July 9 (ANI): Sri Lanka batter Kusal Mendis slammed his sixth ODI hundred, which guided the hosts to a comfortable...
OTTAWA, Canada: With Canada Post struggling to maintain operations amid labour unrest, rivals like FedEx and UPS are stepping in to...
NEW YORK, New York - U.S. and global markets showed a mixed performance in Tuesday's trading session, with some indices edging higher...
PARIS, France: French military and intelligence officials have accused China of orchestrating a covert campaign to damage the reputation...
NEW DELHI, India: Birkenstock is stepping up its efforts to protect its iconic sandals in India, as local legal representatives conducted...
HONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...
NEW YORK, New York - Monday's trading session saw mixed performances across U.S. and global markets, with several major indices posting...