BP has signed a long-term agreement to purchased liquefied natural gas from Venture Global LNG once it opens its export facility in Calcasieu Pass, LA. BP has signed a long-term agreement to purchased liquefied natural... BP has signed a long-term agreement to purchase liquefied natural gas from Venture Global LNG once it opens its export facility in Calcasieu Pass, LA. Under the 20-year agreement, BP will purchase 2 million metric tons of LNG annually upon completion of the export facility, which is slated to begin operation in 2022. The facility, expected to export 10 million metric tons of LNG a year at full capacity, is under construction on a 1,000-acre site at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico. BP is the latest energy producer to contract with Venture Global, which has also signed deals with Shell, Italy's Edison and Portugal's Galp Group. The companies have agreed to purchase a combined 6 million metric tons a year. RELATED: Cheniere posts record profits as LNG cargo volumes surge Venture Global is also developing an LNG facility in Plaquemines Parish, LA on the Mississippi River roughly 30 miles south of New Orleans. The company has raised $525 million for both projects.
BP has entered a 20-year agreement to buy two million tonnes of liquefied natural gas (LNG) each year from Venture Global LNG once its under-construction facility in Calcasieu Pass, Louisiana, opens in 2022. The facility is expected to export 10 million tonnes of LNG a year. Venture Global, which is developing another LNG facility in Plaquemines Parish, Louisiana, also has agreements with Shell, Edison and Galp Group. In the United States, ExxonMobil will build an 800-mile pipeline that would carry LNG, or liquid petroleum gas, from Louisiana through Texas and Louisiana.