VENTURE GLOBAL AND EXCELERATE ENERGY SIGN 20-YEAR LNG SPA AGREEMENT
Excelerate Energy and Venture Global LNG announced the execution of a 20-year LNG Sales and Purchase Agreement (SPA). Under the SPA, Excelerate will purchase 0.7 million tonnes per annum (MTPA) of liquefied natural gas (LNG) on a free on board (FOB) basis from the Plaquemines LNG facility in Plaquemines Parish, Louisiana.
“We are proud to enter this new strategic partnership with Venture Global, which supports our efforts to enhance energy security and accelerate the energy transition by delivering natural gas to our customers worldwide,” said Steven Kobos, President and Chief Executive Officer of Excelerate. “This agreement is an important milestone for Excelerate as we continue to execute our growth strategy. Building a diversified LNG supply portfolio with strong partners like Venture Global will allow us to offer more flexible and cost-effective products to existing and new customers in downstream markets.”
Venture Global is a long-term, low-cost provider of U.S. LNG sourced from resource rich North American natural gas basins.
Excelerate Energy, Inc. is a U.S.-based LNG company located in The Woodlands, Texas.
(Source and image: Venture Global – Plaquemines LNG plant)