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Shell to buy more LNG from Venture Global's Calcasieu Pass project

Venture Global LNG Inc. subsidiary Venture Global Calcasieu Pass LLC struck an agreement with a Royal Dutch Shell plc business unit to boost the amount of LNG it would buy from Venture Global's export facility being built in Cameron Parish, La., to 2 million tonnes per annum.

Shell NA LNG LLC previously agreed to buy 1 mtpa of LNG from the Calcasieu Pass facility. With the additional volumes from Shell, Calcasieu Pass is now supported by 3 mtpa of binding, 20-year, free-on-board contracts, or contracts under which a seller would not shoulder shipping costs. Calcasieu Pass also has a contract with the Italian energy company Edison S.p.A.

Venture Global considers the deal with Shell a "huge milestone" and "breakout event" that brings the project closer to starting construction later in the year, according to Mike Sabel and Bob Pender, co-CEOs of Venture Global.

The Calcasieu Pass facility would be built at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico and is designed to have 10 mtpa of nameplate capacity. Venture Global is also developing the 20-mtpa Plaquemines LNG facility in Plaquemines Parish, La., to be built on the Mississippi River south of New Orleans.