Under this agreement, Repsol will purchase LNG on a free on board (FOB) basis for a 20-year term, starting from the commercial operation date of the Venture Global Calcasieu Pass LNG export facility, currently expected in 2022 upon Final Investment Decision and the satisfaction of other customary conditions precedent.
Mike Sabel and Bob Pender, co-CEOs of Venture Global LNG, jointly announced: "Our contract execution with Repsol, an industry leader across the LNG value chain, represents another significant milestone as we accelerate the development of our Calcasieu Pass project. We are delighted that Repsol, supporting the innovative, low-cost approach Venture Global is deploying at both Calcasieu Pass LNG and Plaquemines LNG, will be joining our existing, high quality partners: Shell, Edison SpA, Galp, BP and PGNiG of Poland."
