Venture Global and Sinopec LNG Sales and Purchase Agreements

Venture Global LNG and Sinopec today announced the signing of two 20-year Sales and Purchase Agreements for the supply of a total of 4 million tonnes per annum 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 of LNG from Venture Global’s Calcasieu Pass LNG facility for a shorter duration. Venture Global LNG noted this represents the largest single LNG supply deal ever signed by a US company and will double imports of US LNG to China.

“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.”

When fully developed Plaquemines LNG will have an export capacity of up to 20 million metric tonnes per year and Calcasieu Pass 10 MTPA of LNG. On October 22nd Venture Global LNG asked the U.S. Federal Energy Regulatory Commission for permission to start commissioning liquefaction systems at the Calcasieu Pass LNG plant. On October 26th Venture Global asked the U.S. Federal Energy Regulatory Commission to start early work on the Plaquemines LNG plant.