Jun. 22—Venture Global LNG has signed a pair of 20-year deals to sell liquefied natural gas to Chevron USA Inc.
Under the contracts, Venture Global LNG will supply 1 million metric tons annually from its upcoming Plaquemines LNG export terminal in Plaquemines Parish and another 1 million tons from its planned CP2 LNG facility in Cameron Parish.
It's the sixth such contract announcement for Venture Global LNG in 2022, and the first with a United States buyer.
"This is an outstanding addition to our growing customer portfolio at CP2," Venture Global CEO Mike Sabel said in a statement.
Plaquemines LNG and CP2 LNG are half of Venture Global LNG's planned four-terminal LNG export portfolio in Louisiana.
The company's first export terminal, Calcasieu Pass, opened in Cameron Parish in January. Plaquemines LNG has been under construction since August and finalized a $13.2 billion financing package in May, and work on CP2 LNG is set to begin in 2023.
The fourth terminal, Delta LNG, is still under federal and state review, and Venture Global LNG has not made a final investment decision on the project.
Chevron officials said the deal is part of the company's strategy to "connect and strengthen relationships across the natural gas value chain."
Chevron also completed a $3.15 billion deal earlier this month to buy Renewable Energy Group, which operates a biofuel refinery in Geismar.
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