China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec") has signed a 
20-year liquified natural gas (LNG) contract with U.S. LNG producer and 
exporter Venture Global LNG on November 4, 2021, to purchase 4 million tons of 
LNG a year.

Venture Global will supply the LNG from its plant in Plaquemines, Louisiana. In 
addition, China International United Petroleum & Chemicals ("UNIPEC"), a 
subsidiary of Sinopec, will purchase LNG resources totaling 3.8 million tons 
from Venture Global's Calcasieu Pass project.

Ma Yongsheng, president of Sinopec, noted that Sinopec has always insisted on a 
low-carbon, green, safe and responsible development strategy.

"Sinopec has been vigorously promoting the high-quality development of the 
natural gas business and improving clean energy supply guarantee capabilities 
to continuously build a better life. The LNG contract with Venture Global LNG 
reflects the two companies' high consensus on supporting the global energy 
transformation and realizing the "dual carbon" goals of reaching peak carbon 
and achieving carbon neutrality," said Ma. 

Mike Sabel, CEO of Venture Global LNG, expressed how great an honor it is to 
establish a long-term cooperative relationship with Sinopec, and how the 
cooperation will speed up the carbon emissions reductions of both parties and 
provide low-cost, reliable, and safe clean energy to China. Venture Global LNG 
has been committed to promoting the global fuel transformation from coal to 
natural gas since the company was founded, and is very glad to supply U.S. LNG 
to Sinopec in support of China's energy transformation.

Venture Global LNG is a key LNG supplier in the Gulf of Mexico region in the 
U.S. and is committed to utilizing the rich natural gas resources of North 
America to provide the world with clean and economical LNG resources.

For more information, please visit Sinopec<http://www.sinopec.com/listco/en/>. 

SOURCE  SINOPEC

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   Caption: Sinopec Signs Long-term Contract with Venture Global LNG.