PETRONAS signs 20-year LNG purchase deal with Venture Global

Venture Global on Thursday announced the execution of a new 20-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 SPA, PETRONAS will purchase 1 million tonnes per annum (MMtpa) of liquefied natural gas (LNG) from Venture Global’s third facility, CP2 LNG, for 20 years. This builds upon Venture Global’s existing agreement with PETRONAS for 1 MTPA of LNG supply from Plaquemines LNG.PETRONAS joins other CP2 LNG customers in Europe, Asia and the rest of the world in a strategically important project to global energy supply and security. To date, approximately 10.75 MMtpa of the 14.4 MMtpa nameplate capacity for CP2 Phase One has been sold.