Venture Global LNG Inc. has reached a deal to sell nearly 8 million metric tons/year (mmty) of liquefied natural gas (LNG) to China Petroleum & Chemical Corp., aka Sinopec, in deals representing the largest supply agreement ever signed by a U.S. gas exporter. 

Venture Global Plaquemines LNG

The 20-year deals, publicly announced on Thursday, also represent the largest supply contracts ever signed by China to import LNG, according to Venture Global. Sinopec is set to purchase 4 mmty from Venture Global’s Plaquemines LNG export terminal under development in Louisiana. Sinopec agreed to purchase 2.8 million mmty on a free-on-board basis and 1.2 mmty on a delivered-at-place-unloaded basis

Few other details were released, but the outline of the Plaquemines agreement was revealed last month in regulatory filings...