Venture Global LNG signed a sales and purchase deal with the Portuguese energy player, Galp, for the delivery of LNG from the Calcasieu Pass export facility, currently under development in Cameron Parish, Louisiana.
Under the agreement, Galp would lift 1 million tons of LNG per year from the project on a free on board basis (FOB), for a 20-year period, Venture Global said in a statement.
The contract term starts from the commercial operation date of the Venture Global Calcasieu Pass LNG export facility, currently expected in 2022 upon final investment decision (FID).
Mike Sabel and Bob Pender , co-CEOs of Venture Global LNG, jointly said the contract execution follows the recent 20-year sales agreements with Shell NA LNG and Edison, now totaling 4 mtpa.
Venture Global LNG is developing both the 10 mtpa Venture Global Calcasieu Pass facility located at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico and the 20 mtpa Venture Global Plaquemines LNG facility in Plaquemines Parish, Louisiana, on the Mississippi River, 30 miles south of New Orleans.