Country for PR: United States
Contributor: PR Newswire New York
Tuesday, December 27 2022 - 11:30
AsiaNet
VENTURE GLOBAL AND INPEX ANNOUNCE LNG SALES AND PURCHASE AGREEMENT
ARLINGTON, Va., Dec. 27, 2022 /PRNewswire-AsiaNet/ --

Today, Venture Global LNG and INPEX CORPORATION (INPEX) announced the execution 
of a long-term Sales and Purchase Agreement (SPA) for the purchase of one 
million tonnes per annum (1MTPA) of liquefied natural gas (LNG) for 20 years. 
Under the agreement, INPEX Energy Trading Singapore Pte. Ltd. (IETS), a 
Singapore-based subsidiary of INPEX, will purchase 1MTPA of LNG from CP2 LNG, 
Venture Global's third project which is expected to commence construction in 
2023. INPEX joins other CP2 LNG customers including ExxonMobil, Chevron, EnBW 
and New Fortress Energy. 

"Venture Global is delighted to welcome INPEX, Japan's largest gas exploration 
and production company, as a customer at CP2 and expand our customer base in 
Asia," said Venture Global CEO Mike Sabel. "We are honored to provide security 
of LNG supply to this key market and look forward to supporting INPEX as it 
delivers our competitive lower carbon energy to the region."

"This agreement will enable the INPEX Group to procure LNG from the United 
States on a long-term basis, expand its LNG supply capacity, and diversify its 
supply sources to further contribute to the stable supply of energy," said 
Hiroshi Kato, Executive Officer and Senior Vice President of Global Energy 
Marketing at INPEX.

About Venture Global LNG

Venture Global is a long-term, low-cost provider of U.S. LNG sourced from 
resource rich North American natural gas basins. Venture Global's first 
facility, Calcasieu Pass, commenced producing LNG in January 2022.  The company 
is also constructing or developing an additional 60 MTPA of production capacity 
in Louisiana to provide clean, affordable energy to the world. The company is 
developing Carbon Capture and Sequestration (CCS) projects at each of its LNG 
facilities.

For more information, visit https://www.venturegloballng.com

About INPEX

INPEX CORPORATION is Japan's largest exploration and production (E&P) company, 
and is currently involved in projects across multiple continents, including the 
Ichthys LNG Project in Australia as Operator. By thoroughly making its oil and 
gas business cleaner while expanding its 5 net zero business areas, INPEX aims 
to provide a stable supply of diverse and clean energy sources including oil, 
natural gas, hydrogen and renewables as a pioneer in energy transformation.

For more information, visit https://www.inpex.co.jp/english/index.html

SOURCE Venture Global LNG

CONTACT: Media contact: Shaylyn Hynes, shynes@vglng.com
Translations

Japanese