Inpex Corp. subsidiary Inpex Energy Trading Singapore Pte. Ltd. (IETS) has signed a 20-year agreement with Venture Global CP2 LNG LLC, a US-based subsidiary of Venture Global LNG, for the purchase of 1 million tonnes/year (tpy) of LNG. IETS will purchase the LNG from Venture Global’s 20-million tpy CP2 LNG project in Cameron Parish, La.
Construction on CP2 will begin in 2023 after government permitting. LNG will be delivered to Inpex’s 1.5-million tpy Naoetsu LNG terminal in Japan and alternative destinations as market conditions warrant.
Inpex plans to increase the volume of LNG it handles to about 10 million tpy by 2030 from 7 million tpy currently by combining its equity volume from current projects.
Venture Global plans to start operations at CP2 second-quarter 2026. It earlier this year expanded an existing supply agreement with Energie Baden-Wurttemberg AG to 2 million tpy from 1.5 million tpy (OGJ Online, Oct. 6, 2022).