PR93805

ARLINGTON, Va., Dec. 21, 2021 /PRNewswire=KYODO JBN/ --

Today, Venture Global LNG and CNOOC Gas & Power Group Co., Ltd., a wholly owned

subsidiary of China National Offshore Oil Corporation (CNOOC), announced the

execution of a 20-year Sales and Purchase Agreement (SPA). This marks the first

LNG supply agreement signed by a US exporter with CNOOC, China's largest

importer of LNG. Under the deal, Venture Global will supply 2 million tonnes

per annum (MTPA) of LNG on a free on board (FOB) basis from its Plaquemines LNG

export facility, in Plaquemines Parish, Louisiana. In addition, CNOOC Gas &

Power will purchase 1.5 million tonnes (MT) of LNG from Venture Global's

Calcasieu Pass LNG facility for a shorter duration.

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"Venture Global is pleased to announce the expansion of our footprint in Asia

through two new deals to supply the Chinese market with clean, low-cost US

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

critical to global climate efforts, and LNG supplied by Venture Global will

serve as an important addition to their low carbon energy mix for decades. This

new long-term partnership with CNOOC builds on our company's continued momentum

in a very active 2021."

"As China's largest LNG importer, CNOOC is committed deeply not only to the

mission of securing China's gas supply, but also to the climate goals of

building a carbon-neutral China by 2060," said Shi Chenggang, Chairman of CNOOC

Gas & Power. "We are pleased to announce our long-term LNG cooperation with

Venture Global. By signing the SPAs with Venture Global, CNOOC will be able to

further improve its ability to meet China's increasing gas demand, whilst

provide solid support for China's energy transition pathway to build a more

"beautiful China".

About Venture Global LNG

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

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

constructing or developing 70 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.

About CNOOC

CNOOC is China's largest LNG importer, and has imported more than 200 million

tons of LNG since 2006. So far, CNOOC has made great contributions to providing

a secured gas supply for China and supporting its green and low-carbon

development goals. In the future, CNOOC will continue to seek reliable,

flexible, competitive and diversified LNG supplies globally.  

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