Venture Global LNG has agreed to sell 4 million tonnes per year of LNG to China’s Sinopec, the American gas producer made public on Tuesday through a letter with the US Department of Energy.
Two contracts for 2.8 million tonnes per year and 1.2 million tonnes per year will come from the proposed Plaquemines LNG project in Louisiana.
The facility will have the capacity to produce 20 million tonnes per year of LNG and will be developed in two phases.
Financial close on the project is expected in Q4 2021.
Cost of the LNG trade agreement was not disclosed.