Venture Global secures approval to commission fourth block at Calcasieu Pass

CNOOC signed deals to purchase 2 mta of LNG from the Plaquemines export facility in Louisiana and 1.5 mta from Calcasieu Pass.

Additionally, a 20-year deal with Sinopec signed in November covers the supply of a further 4 mta exported from Venture Global’s Plaquemines facility. Sinopec, the world’s largest refiner by volume, will be provided with 2.8 mta on a free-on-board basis in one deal and 1.2 mta on a delivered-at-place-unloaded basis for 20 years.

Asia is a rapidly expanding market for natural gas, with US exports growing 31% year-on-year in 2020 despite the pandemic.

Other buyers who have signed up to buy large volumes of LNG from Venture Global include Poland’s Polskie Gor­n­ic­two Naftowe i Gazownictwo and Spain’s Repsol.

In December, the company announced plans to spend US$10Bn on a fourth export terminal in Louisiana. If approved by FERC, it will have a nameplate capacity of 20 mta, making it one of the largest plants of its kind in the United States.

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