Page 12 - NorthAmOil Week 09 2023

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Venture Global signs LNG supply

agreements with China Gas

LOUISIANA VENTURE Global LNG and China Gas Hold- Venture Global is developing carbon capture
ings, a leading independent natural gas operator and sequestration (CCS) projects at each of its
in China, have announced two 20-year LNG LNG facilities. Venture Global’s first facility, Cal-
sales and purchase agreements (SPAs). casieu Pass, started producing LNG in January
The SPAs were signed by a wholly owned sub- 2022, just 29 months after a final investment
sidiary of China Gas, China Gas Hongda Energy decision (FID).
Trading. The company is currently constructing or
Under the SPAs, China Gas will buy 1mn developing an additional 60mn tpy of produc-
tonnes per year of LNG on a free on-board tion capacity in Louisiana across the Plaquem-
(FOB) basis from the under-construction ines, CP2 and Delta projects.
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. It focuses on its domestic market and
Both export facilities are located in Louisiana, is primarily engaged in the investment, con-
close to Venture Global’s operational Calcasieu struction and operation of urban gas pipelines,
Pass LNG terminal. Supply would begin in 2027, gas terminals, storage and transport facilities and
a Venture Global executive told Reuters. logistics systems. Separately,
“As a major participant in China’s energy The company delivers natural gas and liq-
market, we are committed to providing reliable uefied petroleum gas (LPG) to residential, Venture Global
and low-carbon LNG to Chinese customers,” industrial and commercial users. The group
said China Gas Holdings’ chairman and presi- also builds and operates compressed natural gas and US-based
dent, Liu Minghui. (CNG) and LNG fuelling stations while devel-
“These two SPAs increase additional volume oping and applying gas and LPG technologies. Excelerate Energy
for our LNG portfolio and strengthen China Separately, Venture Global and US-based announced on
Gas’ supply ability. We look forward to work- Excelerate Energy announced on February 28
ing with Venture Global over the coming years that they had also signed a 20-year SPA. Exceler- February 28 that
to help further reduce greenhouse gas [GHG] ate will purchase 700,000 tpy of LNG on an FOB
emissions,” he said. basis from the Plaquemines LNG facility. they had also
“Through relentless execution and innova- “Venture Global is thrilled to launch this
tion, our company will continue to bring much new collaboration with Excelerate, a leader in signed a 20-year
needed new capacity to the global LNG market, the FSRU (floating storage regasification unit) SPA.
supporting energy security and environmental industry, as their inaugural long-term LNG
progress both in Asia and Europe,” added Ven- supplier,” said Sabel. “Their foresight and trans-
ture Global’s CEO, Mike Sabel. formational work to bring much-needed energy
“ Importantly, low-cost LNG supplied to the infrastructure to markets around the globe has
region will accelerate fuel switching and lower enabled countries from Europe, the Global
carbon emissions, contributing meaningfully to South, and the developing world to fuel switch
China and the world’s existing climate targets,” from coal to natural gas while lifting millions out
he said. of energy poverty.”™

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