Venture Global Inc. on Wednesday announced its second offtake agreement in a week for its pair of proposed Louisiana liquefied natural gas (LNG) projects. Chevron Corp. also moved to expand its LNG portfolio.

Venture Global Plaquemines LNG

The Arlington, VA company said Chevron agreed to two 20-year sales and purchase agreements (SPA) for a combined 2 million metric tons/year (mmty). Half of the volumes could come from the recently sanctioned Plaquemines LNG, south of New Orleans. The other half could come from the proposed expansion of Calcasieu Parish LNG, dubbed CP2 LNG.

The pair of SPAs comes as Venture shores up offtake, especially for CP2 LNG. The project, with an estimated 20 mmty nameplate capacity, is not yet sanctioned, but Venture has estimated it could be ready to begin liquefaction by 2023.

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CP2 is designed to take advantage of Venture’s modular design, which CEO Mike Sable said allows the company to “deliver energy to our customers faster and at the lowest cost. As we prepare to roll out trains number 55 through 90 at CP2, we are honored that this competitive advantage has been recognized by Chevron.”

Plaquemines LNG, with a planned 20 mmty nameplate capacity, was the first U.S. LNG project to reach a final investment decision since Venture sanctioned the first phase of CP2 in 2019. The first phase of CP2 loaded the first cargo in February.

The SPA comes one day after Venture clinched a similar 20-year agreement with German utility  EnBW Energie Baden-Württemberg AG. EnBW could take 1.5 mmty from both Plaquemines and CP2.

The SPA also marks a move by Chevron to diversify its LNG portfolio with additional U.S. gas. The San Ramon, CA-based supermajor Wednesday said it secured a combined 2 mmty agreement with Cheniere Energy Inc. from two of its Gulf Coast projects.

Chevron has equity stakes in several LNG projects across the world, including operated terminals in Australia. Most of its LNG contracts are linked to crude and under long-term contracts.

Chevron’s Colin Parfitt, vice president of midstream, said the latest round of agreements were part of a “strategy to connect and strengthen relationships across the natural gas value chain – from natural gas production and lower carbon initiatives, to transportation, marketing and delivery to the customers who need it most.”