Venture Global Calcasieu Pass LLC (a subsidiary of Venture Global LNG Inc.) and BP (BP LN) have entered into a 20-year sales and purchase agreement (SPA) for the supply of 2 million tpy from the Venture Global Calcasieu Pass LNG export facility, currently under development in Cameron Parish, Louisiana, US.
Under this agreement, BP will purchase LNG on a free on board basis (FOB) for a 20-year term, starting from the commercial operation date of the Venture Global Calcasieu Pass LNG export facility, which is currently expected in 2022.
Mike Sabel and Bob Pender, co-CEOs of Venture Global LNG, jointly announced: "We are delighted that BP, one of the world's leading international oil and gas companies, has committed to purchase 2 million tpy from our Calcasieu Pass LNG export facility, bringing our total contracted quantity under binding 20-year SPAs to 6 million tpy. BP joins Venture Global's other world-class LNG partners, including Shell, Edison S.p.A. and Galp. As we finalise our arrangements for Calcasieu Pass and proceed towards financing, we have now begun to execute binding commitments for our Plaquemines project, which will also supply low-cost, long-term LNG to our global customers."
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/24052018/bp-purchases-lng-from-venture-global-lng/