Excelerate Energy, Inc. and Venture Global LNG executed a 20-year LNG Sales and Purchase Agreement (SPA). Under the SPA, Excelerate will purchase 0.7 mtpa of LNG on a free on board (FOB) basis from the Plaquemines LNG facility in Plaquemines Parish, Louisiana.
Last year, on 25 May 2022, the company had announced an FID for the first phase of Louisiana’s Plaquemines LNG export facility. The first phase included a capacity of 13.33 mtpa. Venture Global had executed 20-year SPAs for 80 per cent of the full 20.0 MTPA project.
Plaquemines LNG phase one customers include PGNiG, Sinopec, CNOOC, Shell, and EDF; phase two with 10mtpa capacity customers announced to date include ExxonMobil, PETRONAS, and New Fortress Energy.