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Venture Global signs LNG supply

agreements with China Gas Holdings

US VENTURE Global LNG and China Gas Hold- Venture Global is developing carbon capture
ings, a leading natural gas operator in China, and sequestration (CCS) projects at each of its
China Gas will buy have announced two 20-year LNG sales and LNG facilities. Venture Global’s first facility, Cal-
1mn tonnes per year of purchase agreements (SPAs). casieu Pass, started producing LNG in January
LNG on a free on-board The SPAs were signed by a wholly owned sub- 2022, just 29 months after a final investment
basis. sidiary of China Gas, China Gas Hongda Energy decision (FID).
Trading. The company is also constructing or devel-
According to the SPAs, China Gas will buy oping an additional 60mn tpy of production
1mn tonnes per year of LNG on a free on-board capacity in Louisiana to provide clean, affordable
(FOB) basis from the under-construction energy to the world.
Plaquemines LNG facility and another 1mn China Gas is one of China’s largest trans-re-
tpy from the CP2 LNG export facility, which is gional, integrated energy suppliers and service
under development. providers.
Both export facilities are in Louisiana. Supply It focuses on its domestic market and is pri-
would begin in 2027, a Venture Global executive marily engaged in the investment, construction
told Reuters. and operation of urban gas pipelines, gas termi-
“As a major participant in China’s energy nals, storage and transport facilities and logistics
market, we are committed to providing reliable systems.
and low-carbon LNG to Chinese customers,” The company delivers natural gas and LPG
said China Gas Holdings’ chairman and presi- to residential, industrial and commercial users.
dent, Liu Minghui. The group also builds and operates compressed
“These two SPAs increase additional volume natural gas and LNG fuelling stations while
for our LNG portfolio and strengthen China developing and applying natural gas and lique-
Gas’s supply ability. We look forward to work- fied petroleum gas (LPG) technologies.
ing with Venture Global over the coming years In other Venture Global news, US-based
to help further reduce greenhouse gas [GHG] Excelerate Energy and Venture Global LNG have
emissions,” he said. signed a 20-year SPA. Excelerate will purchase
“Through relentless execution and innova- 0.7mn tpy of LNG on an FOB basis from the
tion, our company will continue to bring much Plaquemines LNG facility.
needed new capacity to the global LNG market, “Venture Global is thrilled to launch this
supporting energy security and environmental new collaboration with Excelerate, a leader in
progress both in Asia and Europe,” added Ven- the FSRU (floating storage regasification unit)
ture Global’s CEO, Mike Sabel. industry, as their inaugural long-term LNG
“Venture Global is pleased to welcome China supplier,” said Venture Global’s Sabel. “Their
Gas as a customer both at Plaquemines and foresight and transformational work to bring
CP2. Importantly, low-cost LNG supplied to the much-needed energy infrastructure to markets
region will accelerate fuel switching and lower around the globe has enabled countries from
carbon emissions, contributing meaningfully to Europe, the Global South, and the developing
China and the world’s existing climate targets,” world to fuel switch from coal to natural gas
he said. while lifting millions out of energy poverty.” ™

P10 www. NEWSBASE .com Week 09 03•March•2023