Venture Global, Inc. announced the execution of a new 20-year Sales and Purchase Agreement (SPA) with PETRONAS LNG Ltd., a subsidiary of the Malaysian state-owned oil and gas company, PETRONAS.
Under the terms of the SPA, PETRONAS will purchase 1 million tons per annum of LNG from Venture Global’s third facility, CP2 LNG, for 20 years. This builds upon Venture Global’s existing agreement with PETRONAS for 1 MTPA of LNG supply from Plaquemines LNG.
PETRONAS, a world-class partner in the LNG industry, joins other CP2 LNG customers in Europe, Asia and the rest of the world in a strategically important project to global energy supply and security. To date, approximately 10.75 MTPA of the 14.4 MTPA nameplate capacity for CP2 Phase One has been sold.
