Venture Global, Japan’s Inpex Sign Long-Term LNG SPA

Venture Global LNG has signed a 20-years long Sales and Purchase Agreement (SPA) with Japan based Inpex Corporation (Inpex) for the purchase of 1MTPA of liquefied natural gas (LNG).
 
As per the agreement, Inpex’s Singapore-based subsidiary Inpex Energy Trading Singapore Pte. Ltd. (IETS) will purchase 1MTPA of LNG from CP2 LNG, Venture Global’s third project which is expected to commence construction next year.
 
Inpex joined other CP2 LNG customers including ExxonMobil, Chevron, EnBW and New Fortress Energy. 
 
Commenting on the agreement signed, Mike Sabel, CEO of Venture Global, said “Venture Global is delighted to welcome Inpex, Japan’s largest gas exploration and production company, as a customer at CP2 and expand our customer base in Asia.”
 
“We are honored to provide security of LNG supply to this key market and look forward to supporting Inpex as it delivers our competitive lower carbon energy to the region,” Sabel added.
 
Speaking about the significance of the tie-up, Hiroshi Kato, Executive Officer and Senior Vice President of Global Energy Marketing at Inpex, said “this agreement will enable the Inpex Group to procure LNG from the United States on a long-term basis, expand its LNG supply capacity, and diversify its supply sources to further contribute to the stable supply of energy.”
 
Venture Global is a long-term, low-cost provider of US LNG sourced from resource rich North American natural gas basins. The company’s first facility, Calcasieu Pass, commenced producing LNG in January 2022. It is also constructing or developing an additional 60 MTPA of production capacity in Louisiana to provide clean, affordable energy to the world. The company is developing Carbon Capture and Sequestration (CCS) projects at each of its LNG facilities.