12/27/2022, 2889 characters
ARLINGTON, Va., May 2 /PRNewswire/ — Venture Global LNG and INPEX CORPORATION (INPEX) today announced that they have entered into a long-term sales and purchase agreement (SPA) to purchase and sell one million tons per year (Jan MTPA) announced over 20 years. Under the terms of the agreement, INPEX Energy Trading Singapore Pte. ltd (IETS), a Singapore-based subsidiary of INPEX, to acquire 1 MTPA LNG from CP2 LNG, Venture Global’s third project, construction of which is expected to begin in 2023. INPEX joins other CP2 LNG customers including ExxonMobil, Chevron, EnBW and New Fortress Energy.
“Venture Global is pleased to welcome INPEX, Japan’s largest gas exploration and production company, as a CP2 customer and to expand our customer base in Asia,” said Mike Sabel, CEO of Venture Global to offer the security of LNG supply to the market and look forward to supporting INPEX in delivering our competitive low-carbon energy to the region.”
“This agreement will enable INPEX Group to source LNG from the United States on a long-term basis, expand its LNG supply capacity and diversify its supply sources to further contribute to stable energy supply,” 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 US LNG sourced from resource-rich North American natural gas basins. Venture Global’s first facility, Calcasieu Pass, began producing LNG in January 2022. The Company is also building or developing an additional 60 MTPA of manufacturing capacity in Louisiana to provide clean and affordable energy to the world. The company is developing carbon capture and absorption (CCS) projects at each of its LNG plants.
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Information about INPEX
INPEX CORPORATION is Japan’s largest exploration and production (EuP) company and is currently involved in projects on several continents, including as the operator of the Ichthys LNG project in Australia. By comprehensively making the oil and gas business cleaner while expanding its five net-zero business lines, INPEX aims to pioneer the energy transition by providing a stable supply of diverse and clean energy sources such as oil, natural gas, hydrogen and renewable energy.
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