Venture Global, Vitol sign five-year US LNG supply deal
Liquefied natural gas firm Venture Global said it has signed a binding agreement to supply the super-chilled gas to global commodities trader Vitol.
The United States' second-largest supplier of LNG has been expanding its commercial footprint ahead of new project milestones, as it aims to meet rising demand for the gas.
Here are some details:
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Vitol will purchase about 1.5 million tonnes per annum of LNG for a period of five years startingthis year.
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"We have the ability to provide our customers with short, medium, and long-term LNG supply," Venture Global CEO Mike Sabel said.
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The agreement is another important step in diversifying the tenor of Venture Global's LNG portfolio, Sabel added.
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Earlier this month, Venture Global said it would proceed with the second phase of its CP2 liquefied natural gas project in Louisiana, which it said is strategically important to global energy supply and security.
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Venture Global currently has over 100 MTPA of LNG capacity in production, construction, or development.
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