![]() ![]() ![]() The company is developing Carbon Capture and Sequestration (CCS) projects at each of its LNG facilities. The company is also constructing or developing an additional 60 MTPA of production capacity in Louisiana to provide clean, affordable energy to the world. Venture Global's first facility, Calcasieu Pass, commenced producing LNG in January 2022. LNG sourced from resource rich North American natural gas basins. Venture Global is a long-term, low-cost provider of U.S. Importantly, low-cost LNG supplied to the region will accelerate fuel switching and lower carbon emissions, contributing meaningfully to China and the world's existing climate targets." ![]() Through relentless execution and innovation, our company will continue to bring much needed new capacity to the global LNG market, supporting energy security and environmental progress both in Asia and Europe. ![]() Mike Sabel, Chief Executive Officer of Venture Global LNG said, "Venture Global is pleased to welcome China Gas as a customer both at Plaquemines and CP2. We look forward to working with Venture Global over the coming years to help further reduce greenhouse gas emissions." These two SPAs increase additional volume for our LNG portfolio and strengthen China Gas's supply ability. Ltd., said "As a major participant in China's energy market, we are committed to providing reliable and low-carbon LNG to Chinese customers. Liu Minghui, Chairman and President of China Gas Holdings Co. Under the deals, China Gas will buy 1 million tonnes per annum (MTPA) of LNG on a free on board (FOB) basis from Plaquemines LNG and another 1 MTPA from the CP2 LNG export facility, both in Louisiana. 23, 2023 /PRNewswire/ - Today, Venture Global LNG and China Gas Holdings Limited ("China Gas" or the "Group" stock code: 384), a leading natural gas operator in China, announced that the wholly-owned subsidiary China Gas Hongda Energy Trading Co., LTD ("China Gas Hongda") and Venture Global LNG ("Venture Global"), have signed two 20-year LNG Sales and Purchase Agreements (SPA). Executives have said it could further expand that plant or its Sabine Pass, Texas operation.Deal Ensures Two Million Tonnes of LNG Supply per YearĪRLINGTON, Va., Feb. It formally approved on Wednesday an about $8 billion expansion of is Corpus Christi, Texas, facility. (XOM.N) said it was part of a group of companies investing in a near $30 billion project to develop the world's largest LNG project in Qatar.Ĭheniere said the agreement would accelerate its plans to expand its Gulf Coast facilities. LNG demand is expected to almost double to 700 million tonnes by 2040, according to Shell. Sanctions imposed on Russia in response to its invasion of Ukraine have exacerbated a global natural gas shortage, boosting demand for U.S. The deals, which give Chevron a supply of LNG to sell overseas, are part of Chief Executive Michael Wirth's plan to expand into a red-hot market. 'Venture Global is working hard to complete. The agreement with Venture Global LNG will split purchases from the company's existing Plaquemines LNG plant and from a future plant called Calcasieu Pass 2, both in Louisiana on the U.S. Venture Global LNG has said it planned to make a final investment decision (FID) to build CP2 in mid 2023 with first LNG expected in 2026. The deal with Cheniere would include first deliveries in 2026 and continue through 2042. In deals disclosed on Wednesday, Chevron agreed to buy 2 million tonnes per annum (mtpa) of LNG each from units of Cheniere Energy Inc (LNG.A) and Venture Global LNG. The United States is expected to become the largest LNG exporter this year, leapfrogging Australia and Qatar. gas producers have been striking deals with LNG developers to tap skyhigh global prices with demand forecast to double by 2040. Last year, prices jumped to 89 per mmBtu in August from 23 per mmBtu in February when Russia invaded Ukraine. LNG at the time cost between 8 and 12 per million British thermal units (mmBtu) in Europe. liquefied natural gas (LNG) export market with two agreements designed to increase sales of its shale gas to global markets. Edison and Repsol signed purchase contracts with Venture Global in 20, respectively. June 22 (Reuters) - Chevron Corp (CVX.N) on Wednesday signaled its move into the booming U.S. ![]()
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