The US LNG group Venture Global LNG has executed of two new long-term Sales and Purchase Agreements (SPAs) with ExxonMobil LNG Asia Pacific (EMLAP) for the sale of 2 Mt/year of LNG. Under the agreements, the ExxonMobil affiliate will purchase 1 Mt/year from the Plaquemines LNG project as well as 1 Mt/year from the CP2 LNG terminal. In addition, Venture Global LNG has executed a 20-year Sales and Purchase Agreement (SPA) with Petronas (Malaysia), under the terms of which Venture Global LNG will supply 1 Mt/year of LNG from its Plaquemines LNG export project in Plaquemines Parish, Louisiana (United States) to Petronas.
The proposed 20 Mt/year (27 bcm/year) Plaquemines LNG export terminal will be developed in two 10 Mt/year stages, with a phased operational startup in 2024 and full operations in 2025. The CP2 LNG project will consist of a 20 Mt/year liquefaction and LNG export terminal to be built in Cameron Parish, Louisiana. Construction should start in 2023 and the first phase should start operations in the second quarter of 2026.