Home World INPEX enters LNG Sales and Purchase Agreement with Venture Global LNG

INPEX enters LNG Sales and Purchase Agreement with Venture Global LNG

INPEX CORPORATION announced that INPEX Energy Trading Singapore Pte. Ltd. (IETS), a Singapore-based subsidiary, has signed a 20-year sales and purchase agreement with Venture Global CP2 LNG, LLC, a US-based subsidiary of Venture Global LNG, for the purchase of one million tons per annum (MTPA) of liquefied natural gas (LNG). This agreement will enable the INPEX Group to procure LNG from the United States – one of the world’s leading LNG exporters – on a long-term basis, expand its LNG supply capacity and diversify its supply sources to further contribute to the stable supply of energy worldwide.

IETS will purchase the LNG from Venture Global LNG’s CP2 LNG project, which is expected to begin construction in 2023 in Louisiana after obtaining necessary government approval. The LNG will be delivered to INPEX’s Naoetsu LNG Terminal as well as other terminals of customers in Japan and other countries.

As outlined in INPEX Vision @2022 announced in February 2022, INPEX aims to achieve a stable supply of clean energy by expanding its LNG trading business and strengthen its midstream and downstream businesses. To resolutely promote this initiative, the company plans to increase the volume of LNG handled by about 3 MTPA aiming to handle about 10 MTPA by 2030 combining its equity volume from current projects.

Previous articleOcean Network Express acquired three container terminals on the West Coast of the United States
Next articleEmpowering people working at sea from training to justice