Asia-based LNG buyers announced a trio of offtake agreements to start the post-Christmas week, reflecting intense competition for natural gas molecules in a tightly supplied global market. 

Venture Global LNG Inc. said Monday it has secured a long-term deal to supply liquefied natural gas to a Singapore-based subsidiary of Japan’s Inpex Corp. from Venture’s planned CP2 export project in Louisiana.

Under the 20-year sales and purchase agreement (SPA), Inpex Energy Trading Singapore Pte. Ltd. would purchase one million metric tons/year (mmty) of LNG from CP2. The project, which entails an expansion of Venture’s Calcasieu Pass terminal, is slated to begin construction in 2023.

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