Venture Global LNG announced the execution of a new long-term 20-year Sales and Purchase agreement with Shell. This agreement is for the supply of 2 million tonnes per annum (MTPA) of LNG from Venture Global’s Plaquemines LNG export facility.
Additionally, the company reported that this new deal builds on Shell’s existing contract for 2 MTPA; from the Calcasieu Pass LNG export terminal. This will bring Shell’s total long-term offtake from Venture Global’s facilities to 4 MTPA.
Venture Global CEO Mike Sabel mentioned that “Venture Global is honored that Shell, our first foundational customer at Calcasieu Pass, has chosen to expand its existing cooperation with our company with a second partnership at Plaquemines.” He also said that Venture Global’s commitment is to bring low-cost US LNG online quickly, helping to keep the global market well supplied; while meeting their customers’ growing energy and climate goals. “We look forward to working with Shell for many years to bring low-cost, clean American LNG to the markets that need it most.”
Moreover, the company stated that it now holds the global record for the fastest construction of a large-scale greenfield LNG facility with Calcasieu Pass. Likewise, it is actively under construction at Plaquemines LNG; the company expects it to come online in 2024. Additionally, Global LNG demand is expected to nearly double by 2040. This deal will secure additional volumes for Shell’s leading and diverse global LNG portfolio.
About Venture Global
Venture Global is a long-term, low-cost provider of American-produced liquefied natural gas. They have four Louisiana-based export projects that service the global demand for North American natural gas. Also, they support the long-term development of clean and reliable North American energy supplies.
In addition, 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; in order to provide clean, affordable energy to the world. The company is developing Carbon Capture and Sequestration (CCS) projects at each of its LNG facilities.
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Calcasieu Pass
Venture Global Calcasieu Pass, LLC is developing a liquefied natural gas (LNG) export facility in Cameron Parish, Louisiana, south of the city of Lake Charles. Moreover, the company states that the project site is at an ideal location on the Calcasieu Ship Channel at the mouth of the Gulf of Mexico. It features deep-water access, proximity to plentiful gas supplies, and ease of transport for buyers. Once complete, the company reports that the plant will export 10 MTPA of LNG per year.
Plaquemines
Venture Global Plaquemines LNG, LLC is developing a LNG export facility in Plaquemines Parish, Louisiana; approximately 20 miles south of New Orleans. Additionally, once it is fully developed, Plaquemines LNG will have an export capacity of up to 20 million metric tonnes per year.
