The deal, signed between the subsidiaries of the two companies, INPEX Energy Trading Singapore Pte Ltd (IETS) and Venture Global CP2 LNG LLC, will see Inpex purchasing one million tonnes per annum of LNG on a free-on-board basis for 20 years.
LNG to be Delivered to INPEX's Naoetsu Terminal and Other Locations in Japan
Under the terms of the agreement, the LNG will be sourced from Venture Global LNG's CP2 LNG project in Louisiana, which is slated to begin construction in 2023. The LNG will be delivered to INPEX's Naoetsu LNG terminal and other terminals in Japan.
This marks a significant milestone for both companies, as the deal will help secure a stable supply of LNG for Inpex and provide a new market for Venture Global LNG's products.