Repsol Signs up for Venture Global US LNG
US Venture Global LNG has contracted to sell Spanish energy company Repsol 1mn metric tons/yr of LNG from its Calcasieu Pass LNG export facility in Louisiana, it said September 7.
Repsol will take the LNG free on board for 20 years, starting from the commercial operation date of the 10mn mt/yr Calcasieu Pass LNG export facility, expected in 2022 assuming Venture Global takes final investment decision early next year as planned, and the other customary conditions precedent have been met.
Repsol joins Anglo-Dutch major Shell, French-owned Edison, Portuguese Galp, UK major BP and Polish PGNiG as a long-term offtaker, Venture Global said. It has not yet sold all the capacity. The PGNiG contract is not yet definitively signed.
In common with the army of LNG export projects amassing on the US coastline, Venture Global's feedstock gas will come from the "resource rich North American natural gas basins." Like other such prospective operators, Venture Global says it "has set out to disrupt the LNG industry by taking a bottom-up approach to capital cost. Our customers will benefit from our savings with a low-cost, reliable supply of LNG."