Petronas has inked a 20-year sales and purchase agreement with Venture Global LNG for one million tonnes of liquified natural gas (LNG) from the Plaquemines LNG facility in Louisiana.
Located approximately 20 miles south of New Orleans, the Plaquemines LNG facility will have an export capacity of up to 20 million metric tonnes per year of LNG once complete.
Mike Sabel, CEO of Venture Global, said, “Venture Global is proud to begin a new, long-term supply partnership with Petronas, a world renowned and experienced leaders in global LNG engineering and operations.”
“This contract represents a significant expansion of our existing customer base in Asia, and we particularly look forward to Petronas bring our competitive, lower carbon energy into Southeast Asia, a region with rapidly growing gas demand.”
Petronas’ move in the US LNG market comes at a time when many are trying to cut reliance on Russian gas as a result of the Russia and Ukraine conflict.
Shamsairi Ibrahim, Vice-President of LNG Marketing and Trading at Petronas, said, “Petronas looks forward to the long-term LNG partnership with Venture Global which will support the growth and accessibility of natural gas.”
“With the growing demand for energy security, the addition of the new volume certainly enhances Petronas’ global supply portfolio and demonstrates our support of the energy transition towards a lower carbon future.”