Venture Global LNG Sales and Purchase Agreement with Galp for 1 Million Tonnes of LNG Per Year

Venture Global LNG announced today it has entered into a 20-year Sales and Purchase Agreement with Galp for the supply of one million tonnes per annum of LNG. Galp is a publicly-held, Portuguese-based integrated energy company.

The LNG will be produced from the Venture Global Calcasieu Pass LNG export facility currently under development in Cameron Parish, Louisiana. Venture Global LNG is developing 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.

Under the agreement Galp 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 the facility is planned to come online in 2022. No final investment decision has been made for the Venture Global Calcasieu Pass LNG project.

Mike Sabel and Bob Pender, co-CEOs of Venture Global LNG, jointly announced “We are very honored that Galp has signed this binding 20-year SPA with our company. Today’s execution follows the recent announcements of our binding 20-year sales agreements with Shell NA LNG LLC and Edison S.p.A., now totaling 4 MTPA. It is a privilege to become a long-term partner with Galp at this key moment as we finalize our arrangements with additional world-class partners for our Calcasieu Pass project.”