The Strategist

Japan's IETS signs LNG supply contract with U.S. Venture Global

12/28/2022 - 09:44

Japan's IETS will be purchasing 1 million tons of LNG annually from Venture Global for 20 years.

A 20-year purchase deal for 1 million tons of LNG per year was signed between Venture Global CP2 LNG, a subsidiary of Venture Global LNG based in the United States, and INPEX Energy Trading Singapore (IETS), a subsidiary of INPEX Corporation (INPEX), according to a press release.

The project will start construction in Louisiana after gaining the required regulatory approval, according to the company, and IETS will buy LNG from it. The gas will then be supplied to the Naoetsu terminal as well as other customer terminals in Japan and other nations.

U.S. Venture Global extracts gas from natural gas basins in North America. The Japanese oil and gas business Inpex Corporation was established in 2006.