Venture Global LNG Sales and Purchase Agreements with New Fortress Energy

Venture Global LNG announced today it has executed two new long-term 20-year Sales and Purchase Agreements (SPA) with New Fortress Energy. One agreement is for 1 million tonnes per annum from Plaquemines LNG. The other agreement for 1 million tonnes per annum from CP2 LNG. This is the first SPA for the CP2 LNG facility. CP2 LNG is a planned LNG export facility with a capacity of 20 million metric tonnes per annum to be located in Cameron Parish, Louisiana. Venture Global LNG expects to begin construction on CP2 LNG in 2023.

Plaquemines LNG is a planned export facility Plaquemines Parish, Louisiana with an export capacity of up to 20 million metric tonnes per year. The company noted in a statement today it is expected to soon take formal FID and close project financing on Plaquemines LNG. Venture Global LNG has sold 14 million tonnes of the 20 MTPA nameplate capacity for Plaquemines LNG and expects to announce contracts for the remaining capacity in the coming weeks.

“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.