Venture Global to supply LNG to Exxon’s Asia-Pacific unit

2022.05.10 14:01

FILE PHOTO: Cars are seen at an Exxon gas station in Brooklyn, New York City, U.S., November 23, 2021. REUTERS/Andrew Kelly

(Reuters) – Venture Global LNG said on Tuesday it would supply two million tonnes of liquefied natural gas (LNG) per annum to the Asia-Pacific unit of Exxon Mobil Corp (NYSE:XOM).

Global demand for U.S. LNG has surged since the Russian invasion of Ukraine, which has tightened an already under-supplied market.

Under the deal, the Exxon unit will purchase one million tonnes of LNG each year from both Venture Global’s Plaquemines LNG facility and the CP2 LNG facility. Both the operations are in Louisiana.

This is the second supply agreement for CP2, which is expected to start construction in 2023.

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