VENTURE GLOBAL LNG EXPANDS LNG PARTNERSHIP WITH SHELL
PR94865
ARLINGTON, Va., March 8, 2022 /PRNewswire=KYODO JBN/ --
Today, Venture Global LNG announced the execution of a new long-term 20-year
Sales and Purchase Agreement (SPA) with Shell NA LNG LLC (Shell) for the supply
of 2 million tonnes per annum (MTPA) of LNG from Venture Global's Plaquemines
LNG export facility. This new deal builds on Shell's existing contract for 2
MTPA from the Calcasieu Pass LNG export terminal, bringing Shell's total
long-term offtake from Venture Global's facilities to 4 MTPA.
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"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," said Venture Global CEO Mike Sabel.
"Venture Global is committed to bringing low-cost US LNG online quickly,
helping to keep the global market well supplied, while meeting our 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."
Venture Global now holds the global record for the fastest construction of a
large-scale greenfield LNG facility with Calcasieu Pass and is actively under
construction at Plaquemines LNG, which is expected to come online in 2024.
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 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'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
CONTACT: Shaylyn Hynes, shynes@vglng.com
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