PR92856

ARLINGTON, Va., Nov. 4, 2021 /PRNewswire=KYODO JBN/ --

-- Venture Global set to become America's top LNG exporter to China

Today, Venture Global LNG and China Petroleum & Chemical Corp. (Sinopec)

announced the signing of two 20-year Sales and Purchase Agreements (SPA) for

the supply of a total of 4 million tonnes per annum (MTPA) of LNG from Venture

Global's Plaquemines LNG export facility, in Plaquemines Parish Louisiana. In

addition, UNIPEC, a Sinopec subsidiary has agreed to purchase 3.5 million

tonnes (MT) of LNG from Venture Global's Calcasieu Pass LNG facility for a

shorter duration. This represents the largest single LNG supply deal ever

signed by a US company and will double imports of US LNG to China.

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"Venture Global is proud to enter into this new and exciting long-term

partnership with Sinopec, and soon become the largest US LNG exporter to

China," said Mike Sabel, Chief Executive Officer of Venture Global LNG.

"Today's announcement will accelerate our combined efforts to lower carbon

emissions and provide a low-cost, reliable and secure energy supply to China.

From day one, Venture Global has been on a mission to drive fuel switching

around the world from coal to natural gas, and we are thrilled to equip Sinopec

with a large supply of US LNG to do that and assist China in its energy

transition."

"Sinopec has been pursuing low-carbon, green, safe, responsible and sustainable

development, seeking high quality growth of its natural gas business," said Ma

Yongsheng, President of Sinopec Corp. "We are committed to building capacity in

providing clean energy and meeting peoples aspiration for better life. The

signing of this LNG SPA reflects the shared mission of Sinopec and Venture

Global in promoting the global energy transition and is of significance in

achieving carbon emission peak and neutrality goals."

CLICK HERE (https://c212.net/c/link/?t=0&l=en&o=3347770-1&h=762154941&u=https%3A%2F%2Fvimeo.com%2F642180778%2F378bbc0856&a=CLICK+HERE)

to view a video of speech and signing ceremony.

About Venture Global LNG

Venture Global is a long-term, low-cost provider of U.S. LNG to be sourced from

resource rich North American natural gas basins. Venture Global is currently

constructing or developing multiple export facilities in Louisiana to provide

clean, affordable energy to the world.

About Sinopec

China Petroleum & Chemical Corporation (hereinafter referred to as "Sinopec

Corp.") is a listed company on Chinese and international stock exchanges with

integrated upstream, midstream and downstream operations along the oil and gas

business value chain. Its controlling shareholder, China Petrochemical

Corporation ("Sinopec Group") is the world's largest oil refiner and second

largest chemical company and has been among the top 5 the Fortune 500 Company

over the past years. Through its 30,000 gas stations, Sinopec reaches to 20

million customers every day.

SOURCE: Venture Global LNG

CONTACT: Venture Global investor contact: Leah Woodward, D: +1 202 759-6746,

lwoodward@vglng.com; Venture Global media contact: Shaylyn Hynes, D: +1 202

920-0964, shynes@vglng.com