PR95021

ARLINGTON, Va., March 16, 2022 /PRNewswire=KYODO JBN/ --

Today, Venture Global LNG announced that it has executed two new long-term

20-year Sales and Purchase Agreements (SPAs) with New Fortress Energy Inc.

(NASDAQ: NFE), including 1 million tonnes per annum (MTPA) from Plaquemines LNG

and 1 MTPA from CP2 LNG. This is the first SPA for the CP2 LNG facility, which

the company expects to commence construction on in 2023. With these agreements,

Venture Global has now executed over 80% of long-term 20-year contracts signed

by US LNG companies since 2017.

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"Venture Global is proud to enter into a long-term LNG partnership with New

Fortress Energy. Our companies share a commitment to keeping energy markets

well supplied while also advancing clean energy goals, through the export of

low-cost US LNG to emerging economies," said Mike Sabel, Chief Executive

Officer (CEO) of Venture Global LNG. "The CP2 LNG facility, adjacent to

Calcasieu Pass, will build on our vision of making Louisiana an international

hub for innovation to enhance global energy security."

Today, the company is also announcing several milestones in its pre-FID

activities for Plaquemines LNG:

    -- Expected to soon take formal FID and close project financing.

    -- Launched construction in August 2021 due to historic market demand

       and robust financial support for the project.

    -- Sold 14 million tonnes of the 20 MTPA nameplate capacity. The company

       expects to announce contracts for the remaining capacity in the

       coming weeks.

    -- Awarded engineering and procurement contracts to world class companies

       including KZJV, Baker Hughes, UOP Honeywell and CB&I.

"In today's global market, execution and speed matter, and Venture Global is

uniquely positioned to quickly deliver US LNG capacity to meet the world's

growing demand for energy," said Mike Sabel, CEO of Venture Global. "With that

in mind-and building on the successful record of 29 months from FID to first

LNG production at Calcasieu Pass- our company has moved forward with an

expedited schedule for Plaquemines. While we conclude the project financing

process, we have taken a number of steps to accelerate our project, including

the award of major EPC contracts and launching construction in the fall of

2021."

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: Leah Woodward, +1 202 920-0964, lwoodward@vglng.com,

Shaylyn Hynes,  shynes@vglng.com