Venture Global, New Fortress sign 2 million tpy of LNG offtake deals

Venture Global LNG Inc. has executed two new 20-year sales agreements with New Fortress Energy Inc., including 1 million tonnes/year (tpy) from 20-million tpy Plaquemines LNG and 1 million tpy from CP2 LNG. This is the first offtake agreement for the 20-million tpy CP2 LNG, sited in Cameron Parish, La., which the company expects to begin construction on in 2023.

The company has sold 14 million tpy of Plaquemines LNG’s capacity and expects to take final investment decision and close project financing “soon.” Construction started in August 2021.

Venture Global earlier this month awarded Baker Hughes Co. a contract to provide modular liquefaction for the first phase of Plaquemines LNG (OGJ Online, Mar. 9, 2022). Delivery is expected in 2023 to meet a 2024 start-up date.

New Fortress last year began operations at its Baja California Sur LNG terminal at the Port of Pichilingue, Mexico.