VENTURE GLOBAL AND PETRONAS ANNOUNCE SALES AND PURCHASE AGREEMENT
ARLINGTON, Va., May 11, 2022 /PRNewswire/ -- Today, Venture Global LNG and PETRONAS LNG Ltd. ("PLL"), a subsidiary of the Malaysian state-owned oil and gas company, PETRONAS, announced the execution of a new 20-year Sales and Purchase Agreement (SPA) for the purchase of 1 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from Venture Global's Plaquemines LNG facility. With this agreement, Venture Global has now announced 20-year sales for 16 MTPA of the 20 MPTA nameplate capacity at Plaquemines LNG.
"Venture Global is proud to begin a new, long-term supply partnership with PETRONAS, a world renowned and experienced leader in global LNG engineering and operations," said Venture Global CEO Mike Sabel. "This contract represents a significant expansion of our existing customer base in Asia and we particularly look forward to PETRONAS bringing our competitive, lower carbon energy into Southeast Asia, a region with rapidly growing gas demand."
PETRONAS Vice President of LNG Marketing & Trading, Shamsairi Ibrahim said, "PETRONAS looks forward to the long-term LNG partnership with Venture Global which will support the growth and accessibility of natural gas. With the growing demand for energy security, the addition of the new volume certainly enhances PETRONAS' global supply portfolio and demonstrates our support of the energy transition towards a lower carbon future."
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.
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