Venture Global LNG Sales and Purchase Agreement with BP

Venture Global LNG and BP have entered into a 20-year Sales and Purchase Agreement for the supply of two million tonnes per annum of LNG from the Venture Global Calcasieu Pass export facility, currently under development in Cameron Parish, Louisiana, USA.

According to a Venture Global statement BP will purchase LNG on a free on board basis for a 20-year term starting from the commercial operation date of the Venture Global Calcasieu Pass LNG export facility, currently expected in 2022.

Mike Sabel and Bob Pender, co-CEOs of Venture Global LNG, jointly announced “We are delighted that BP, one of the world’s leading international oil and gas companies, has committed to purchase 2 MTPA from our Calcasieu Pass LNG export facility, bringing our total contracted quantity under binding 20-year SPAs to 6 MTPA.”

Venture Global LNG is developing both the 10 MTPA Venture Global Calcasieu Pass facility on an approximately 1,000-acre site located at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico and the 20 MTPA Venture Global Plaquemines LNG facility in Plaquemines Parish, Louisiana on an approximately 630-acre site on the Mississippi River, 30 miles south of New Orleans, Louisiana. Venture Global has raised $525 million of capital to-date to support the development of its projects.