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Galp & Venture Sign 20 Year LNG Sale and Purchase Agreement

Source: www.gulfoilandgas.com 5/2/2018, Location: Europe

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Galp informs that it has signed a 20-year LNG Sales and Purchase Agreement (SPA) with Venture Global LNG for 1 MTPA (million tonnes per annum) from the Calcasieu Pass LNG export facility in Cameron Parish, Louisiana (USA).

The agreement is subject to the Final Investment Decision by Venture Global LNG for the construction of the facility, which is currently under development and expected to start in 2022. The agreement is also subject to the satisfaction of customary conditions precedent, including the approval of the relevant competent authorities, such as the issuance of the Export Authorisations and the Federal Energy Regulatory Commission (FERC) Order.

This agreement fits Galp’s global strategy by securing a balanced and competitive long-term sourcing for its international natural gas activities, contributing for the development of efficient and environmentally sustainable energy solutions.

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