Petronas commits to long-term LNG offtake from Venture Global’s future plant

Venture Global, a U.S. producer of liquefied natural gas (LNG), has signed a multi-year sales and purchase agreement (SPA) with Petronas LNG, a subsidiary of the Malaysian state-owned oil and gas company, Petronas.

Under the terms of the deal, Petronas will purchase 1 million tonnes per annum (mtpa) of LNG from Venture Global’s CP2 LNG facility under development in Cameron Parish, Louisiana. The contract duration is 20 years.

Boasting an export capacity of at least 20 mtpa, the CP2 LNG terminal will be situated near Venture Global’s Calcasieu Pass LNG facility. Venture Global is targeting its first LNG exports from CP2 in Q3 2027. 

The plant is envisaged to have 36 liquefaction trains, configured in 18 blocks, each with a 0.626 mtpa capacity. There will also be four 200,000-cubic-meter full containment LNG storage tanks, and two marine loading berths.

Earlier this month, Worley, which is in charge of the engineering, procurement, and construction (EPC) planning services for the project, said it was nearing the start of work at the facility.

This follows Petronas’ supply deal with another U.S. player, Commonwealth LNG, for 1 mtpa of LNG for 20 years from the Commonwealth LNG plant currently under development in the same location as Venture Global’s – Cameron, Louisiana.

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