Arlington’s Venture Global LNG signs sales agreement with French utility
20-year deal will provide liquefied natural gas to EDF.
A subsidiary of Arlington-based liquefied natural gas producer Venture Global LNG Inc. has entered into a 20-year sales and purchase agreement to provide 1 million tons of liquified natural gas per year to the world’s largest electricity producer, Électricité de France (EDF), Venture Global announced Tuesday.
Venture Global Plaquemines LNG LLC, a 630-acre natural gas facility set to start construction later this year in Louisiana’s Plaquemines Parish south of the Port of New Orleans, is the company’s second exporting project. It has received its final approvals from the U.S. Department of Energy and the Federal Energy Regulatory Commission, according to the company’s news release.
Under the agreement, EDF will purchase liquefied natural gas from Venture Global on a free-onboard basis (meaning that once the cargo is onboard a ship, the buyer assumes the risk) for a 20-year term starting from the commercial operation date of the Plaquemines facility.