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Inpex Corp Signs 20-Year LNG Deal with Venture Global

Inpex Corp, Japan's leading oil and gas exploration company, announced on Tuesday that it had signed a long-term liquefied natural gas (LNG) sales and purchase agreement with Venture Global LNG, a US-based company.

Inpex Corp Complex
Inpex Corp Complex

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.