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BP inks LNG supply deal with Venture Global for 2M tons/year

May 21, 2018 11:57 AM ETBP p.l.c. (BP) StockBPBy: Carl Surran, SA News Editor4 Comments
  • BP (BP +0.7%) says it signed a 20-year agreement to buy liquefied natural gas from Venture Global LNG's Calcasieu Pass export facility in Louisiana, which is currently under development.
  • BP will purchase 2M metric tons/year of LNG upon completion of the facility, which is scheduled to begin operation in 2022.
  • Venture Global LNG is developing both the 10M metric tons/year Calcasieu Pass facility on the Louisiana coats and the 20M metric tons/year Plaquemines LNG facility on the Mississippi River south of New Orleans.
  • Venture Global also has signed deals with Shell, Italy's Edison and Portugal's Galp, which have agreed to buy a combined 6M metric tons/year.

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