https://www.petrolplaza.com/news/29421

2023 0717

C0617 ?- Venture - Shell 2 mtpa.?Calcasieu Pass LNG

C0715 - Venture - Shell 2 mtpa.?Plaquemines LNG

With this new agreement, the oil company brings its total long-term purchases to 4 million tonnes of LNG per year.

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Last update:?March 9, 2022

Venture Global LNG has announced the execution of a new long-term 20-year Sales and Purchase Agreement with Shell for the supply of 2 million tonnes per annum of LNG from the company’s Plaquemines LNG export facility. This new deal builds on Shell's existing contract for 2 MTPA from the Calcasieu Pass LNG export terminal, bringing Shell's total long-term offtake from Venture Global's facilities to 4 MTPA.

"Venture Global is honored that Shell, our first foundational customer at Calcasieu Pass, has chosen to expand its existing cooperation with our company with a second partnership at Plaquemines. Venture Global is committed to bringing low-cost US LNG online quickly, helping to keep the global market well supplied, while meeting our customers' growing energy and climate goals. We look forward to working with Shell for many years to bring low-cost, clean American LNG to the markets that need it most," said Mike Sabel, CEO of Venture Global.

According to the press release published by Venture Global, the company now holds the global record for the fastest construction of a large-scale greenfield LNG facility with Calcasieu Passand. In addition, the firm? is actively under construction at Plaquemines LNG, which is expected to come online in 2024.

This deal will secure additional volumes for Shell's diverse global LNG portfolio. The company projects that the global LNG demand is expected to nearly double by 2040.