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Brief -- Venture Global LNG

Venture Global LNG Inc. unit Venture Global Calcasieu Pass LLC has entered into a sales and purchase agreement (SPA) with Shell NA LNG LLC under which Shell has agreed to purchase one million tonnes per annum (mtpa) of liquefied natural gas (LNG) from Venture Global Calcasieu Pass's LNG export facility under development in Cameron Parish, LA (see Daily GPISept. 8, 2015). The SPA has a term of 20 years commencing on the commercial operation date of the facility with a Shell option to extend the term. Shell will purchase LNG on a free on board basis (FOB) at a price indexed to the monthly Henry Hub price, plus a facility fee indexed to inflation. Venture Global LNG is developing both the 10-mtpa Venture Global Calcasieu Pass facility on a 1,000-acre site at the intersection of the Calcasieu Ship Channel and the Gulf of Mexico, and the 20-mtpa Venture Global Plaquemines LNG LLC facility in Plaquemines Parish, LA, on a 630-acre site on the Mississippi River about 30 miles south of New Orleans (see Daily GPIJuly 7, 2015).

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