![Japan’s INPEX Signs 20-year LNG Deal with Venture Global LNG](/sites/default/files/styles/hart_news_article_image_640/public/image/2022/12/japans-inpex-signs-20-year-lng-deal-venture-global-lng.jpg?itok=fz9KP8As)
INPEX’s purchase and sales agreement would add 1 million tons per annum (mtpa) of LNG from the U.S. (Source: GoodIdeas/Shutterstock.com)
Japan’s INPEX Corp. signed a 20-year sales and purchase agreement with Global LNG for offtake from a Louisiana facility set to begin construction in 2023, INPEX said Dec. 27.
INPEX’ subsidiary, INPEX Energy Trading Singapore Pte. Ltd. (IETS), agreed to purchase 1 million tons per annum (mtpa) of LNG from the U.S., allowing it to expand its LNG supply capacity and diversify its supply sources to further contribute to the stable supply of energy worldwide.
IETS will purchase the LNG from Venture Global LNG’s CP2 LNG project, which is expected to begin construction in 2023 after obtaining U.S. government approval.
The free-on-board LNG will be delivered to INPEX’s Naoetsu LNG Terminal as well as other terminals in Japan and other countries.
INPEX aims to achieve a stable supply of clean energy by expanding its LNG trading business and strengthening its midstream and downstream businesses.
The company plans to increase the volume of LNG it handles by about 3 mtpa, aiming to handle about 10 mtpa by 2030 combining its equity volume from current projects.
INPEX is Japan’s largest E&P company. It is currently involved in projects across multiple continents, including the Ichthys LNG Project in Australia as operator.
Recommended Reading
Solaris Stock Jumps 40% On $200MM Acquisition of Distributed Power Provider
2024-07-11 - With the acquisition of distributed power provider Mobile Energy Rentals, oilfield services player Solaris sees opportunity to grow in industries outside of the oil patch—data centers, in particular.
Liberty Energy Warns of ‘Softer’ E&P Activity to Finish 2024
2024-07-18 - Service company Liberty Energy Inc. upped its EBITDA 12% quarter over quarter but sees signs of slowing drilling activity and completions in the second half of the year.
Quantum’s Wil VanLoh on Turning ESG into E$G
2024-05-21 - Wil VanLoh, founder and CEO of Quantum Energy Partners said private companies need to change their mindset on ESG because they’re building a product to sell to public companies — and may be missing out on cost savings.
Offshore, Middle East Buoys SLB’s 2Q as US Land Revenue Falls
2024-07-19 - Driven by a strong offshore market and bolstered by strategic acquisitions and digital innovation, SLB saw a robust second quarter offset by lower drilling revenue in the U.S.
Halliburton Sees NAM Activity Rebound in ‘25 After M&A Dust Settles
2024-07-19 - Halliburton said a softer North American market was affected by E&Ps integrating assets from recent M&A as the company continues to see international markets boosting the company’s bottom line.