Chevron USA is set to purchase two million tonnes per annum of LNG from Venture Global, under two sales and purchase agreements inked on Wednesday (22nd June).
The 20-year-long agreement will see one million tonnes per annum supplied from Venture Global’s Plaquemines LNG facility in Louisiana and another one million tonnes per annum supplied from its CP2 LNG project.
Construction of the CP2 LNG site is set to commence in 2023. The facility will also be located in Louisiana and have a nameplate liquefaction capacity of 20 million tonnes per annum, with a peak capacity of approximately 24 million tonnes per annum.
Mike Sabel, CEO of Venture Global, said, “Venture Global is delighted to begin a long-term LNG agreement with Chevron, one of the world’s premier integrated energy companies.”
“This is an outstanding addition to our growing customer portfolio at CP2. Our innovative and proven approach for the deployment of LNG trains enables us to deliver energy to our customers faster and at the lowest cost.”
“As we prepare to roll out trains number 55 through 90 at CP2, we are honoured that this competitive advantage has been recognised by Chevron.”
Colin Parfitt, Vice-President of Chevron Midstream, added, “Our agreements with Venture Global allow Chevron to deliver affordable, reliable, and ever cleaner energy to meet long-term demand.”
“This is part of Chevron’s strategy to connect and strengthen relationships across the natural gas value chain – from natural gas production and lower carbon initiatives, to transportation, marketing and delivery to the customers who need it most.”