Venture Global Calcasieu Pass has signed an agreement to supply one million tonnes per annum (MTPA) of liquid natural gas (LNG) to Portuguese company Galp.
Under the 20-year sales and purchase agreement (SPA), Venture Global plans to supply the gas from its LNG export facility, which is currently under development in Louisiana, US.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Galp will buy LNG on a free-on-board (FOB) basis for 20 years starting from the commercial operation date of Venture’s export facility.
Operations are expected to begin in 2022 upon a final investment decision (FID) and the satisfaction of other customary conditions.
Venture Global’s LNG co-CEOs Mike Sabel and Bob Pender jointly said: “We are very honoured 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 and Edison now totalling 4MTPA.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“It is a privilege to become a long-term partner with Galp at this key moment as we finalise our arrangements with additional world-class partners for our Calcasieu Pass project.”
With an expected capacity of 10MTPA, the Venture Global Calcasieu Pass facility is being constructed on an approximately 1,000-acre site located at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico.
In the Plaquemines Parish, Louisiana, the company is also constructing the 20MTPA Venture Global Plaquemines LNG facility on an approximately 630-acre site on the Mississippi River.
