The effectiveness of each agreement is subject to customary terms and conditions. “The CP2 LNG facility, adjacent to Calcasieu Pass, will build on our vision of making Louisiana an international hub for innovation to enhance global energy security.” Our companies share a commitment to keeping energy markets well supplied while also advancing clean energy goals, through the export of low-cost US LNG to emerging economies,” said Mike Sabel, Chief Executive Officer of Venture Global LNG. “Venture Global is proud to enter into a long-term LNG partnership with New Fortress Energy. In December 2021, Venture Global filed a formal application requesting authorization from the Federal Energy Regulatory Commission (FERC) to site, construct, and operate the 20 MTPA nameplate capacity CP2 LNG facility. In addition to 1 MTPA from Plaquemines LNG, NFE agreed to purchase an additional 1 MTPA of LNG from Venture Global’s CP2 LNG facility, located in Cameron Parish, Louisiana, adjacent to Venture Global’s existing Calcasieu Pass LNG facility. “These volumes support our plan to expand and diversify our stable natural gas supply portfolio to meet the growing needs of our customers in a structurally short global natural gas market.” “We are pleased to partner with Venture Global as we advance our mission of providing customers around the world with access to low-carbon natural gas and affordable electricity,” said Wes Edens, Chairman and CEO of NFE. Under the first agreement, NFE will purchase 1 MTPA of LNG from Venture Global’s Plaquemines LNG export facility in Plaquemines Parish, Louisiana for a term of 20 years. Under the deals, Venture Global will supply 2 million tonnes per annum (MTPA) of LNG on a free on board (FOB) basis from its LNG facilities in Louisiana. (NASDAQ: NFE) (together with its affiliates, “NFE”) announced today the execution of two 20-year Sale and Purchase Agreements (SPA) with Venture Global LNG (“Venture Global”). Venture Global has entered long-term agreements to sell LNG to units of several companies around the world, including China National Offshore Oil Corp (CNOOC), China Petroleum and Chemical Corp (Sinopec), Royal Dutch Shell PLC, BP PLC, Edison SpA, Galp Energia SGPS SA and Polish Oil and Gas Co (PGNiG).NEW YORK-(BUSINESS WIRE)-Mar. Venture Global has already started early site work on the $8.5 billion Plaquemines project, which analysts expect to start producing first LNG in 2024. In total, Venture Global has about 70 MTPA of LNG export capacity under construction or development in Louisiana, including the 10-MTPA Calcasieu Pass, 20-MTPA Plaquemines, 20-MTPA Delta and 20-MTPA CP2. Analysts estimate the plant cost about $4.5 billion.įederal regulators have approved the commissioning of at least three blocks so far. Venture Global is installing 18 modular liquefaction trains configured in nine blocks at Calcasieu to produce about 10 million tonnes per annum (MTPA) of LNG, equivalent to about 1.5 billion cubic feet per day of natural gas. 19.Ĭalcasieu has been pulling in feed gas from pipelines since around August, according to Refinitiv data, as the company tests equipment. Officials at Venture Global were not immediately available to comment on whether the Yiannis would be the first tanker to pick up LNG at the facility.Ĭalcasieu started producing LNG around Jan. 9 so the company could load that cargo on or after that date. Federal Energy Regulatory Commission (FERC) to authorize the first cargo before Feb. Last week, Venture Global sought permission from federal energy regulators to load the first commissioning cargo from Calcasieu Pass. A tanker, the Yiannis, arrived near Venture Global LNG's Calcasieu Pass liquefied natural gas (LNG) export plant in Louisiana on Monday and could be first vessel to pick up a cargo at the facility, according to data from Refinitiv.
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