The Japanese energy group JERA has signed a 20-year LNG sales and purchase agreement (SPA) with the US LNG export project developer Venture Global. JERA will purchase 1 Mt/year of LNG produced from the Venture Global-operated CP2 project located in Cameron Parish, in the US State of Louisiana.
The construction of the CP2 LNG project is set to begin in 2023. The terminal, which should enter full operation in 2026, is expected to have a capacity of 20 Mt/year of LNG and a peak capacity of approximately 24 Mt/year.
In February 2023, Venture Global signed a 20-year LNG SPA with China Gas Hongda Energy Trading, a subsidiary of China Gas Holdings, for 1 Mt/year from the CP2 terminal. In December 2022, it signed a similar SPA with Japan’s oil and gas company Inpex.
Venture Global is also developing the 20 Mt/year Plaquemines LNG terminal, also located in Louisiana, for which the LNG project developer has already signed SPAs with several companies, including among others ExxonMobil, Chevron, EnBW, China Gas, Petronas, Shell, CNOOC and Sinopec.