Venture Global Signs Multi-Year LNG Sales Agreement with Petronas

Venture Global, a prominent U.S. producer of liquefied natural gas (LNG), has recently inked a significant multi-year sales and purchase agreement (SPA) with Petronas LNG, a subsidiary of the esteemed Malaysian state-owned oil and gas company, Petronas.

As per the terms of the deal, Petronas has committed to procuring 1 million tonnes per annum (mtpa) of LNG from Venture Global’s upcoming CP2 LNG facility located in Cameron Parish, Louisiana. The agreement spans a period of 20 years.

The CP2 LNG terminal, with an export capacity of at least 20 mtpa, will be strategically positioned near Venture Global’s existing Calcasieu Pass LNG facility. The company is aiming to commence its initial LNG exports from CP2 in the third quarter of 2027.

The envisioned plant is set to feature 36 liquefaction trains, organized in 18 blocks, each boasting a capacity of 0.626 mtpa. Additionally, the infrastructure will include four 200,000-cubic-meter full containment LNG storage tanks and two marine loading berths.

Recently, Worley, entrusted with the engineering, procurement, and construction (EPC) planning services for the project, hinted at the imminent commencement of work at the facility.

This latest agreement adds to Petronas’ existing supply deal with another U.S. player, Commonwealth LNG, for 1 mtpa of LNG over a 20-year period from the Commonwealth LNG plant currently in development in the same vicinity as Venture Global’s project in Cameron, Louisiana.