JERA Co., Inc. (JERA) has signed a LNG Sales and Purchase Agreement (LNG SPA) with Venture Global CP2 LNG, LLC (Venture Global CP2).

Pursuant to the LNG SPA, JERA will purchase approximately 1.0 million tons per year of LNG produced from the CP2 project in the United States, operated by Venture Global CP2, from the commencement of commercial operation of the project for 20 years.

LNG procurement competition has been intensifying and thus, stable procurement of LNG in a timely manner in line with the domestic electricity supply-demand situation is needed to secure a stable supply of energy in Japan.

This is a destination free FOB contract, which enable JERA to secure LNG in a high flexible manner and is expected to help with JERA’s capability to respond to volatility in the domestic electricity supply and demand.

JERA will continue to strive for flexible procurement to contribute to fuel supply stability and stable supply of energy in Japan.

About JERA

JERA was created through the consolidation of the fuel and thermal power departments of the Tokyo Electric Power Company and the Chubu Electric Power Company. The company was established with the concurrent aims of creating an energy company capable of competing in the global energy market and providing a stable supply of globally competitive energy, all while increasing corporate value.

About Venture Global

Venture Global is a long-term, low-cost provider of U.S. LNG sourced from resource rich North American natural gas basins. Venture Global’s first facility, Calcasieu Pass, commenced producing LNG in January 2022. The company is also constructing or developing an additional 60 MTPA of production capacity in Louisiana to provide clean, affordable energy to the world. The company is developing Carbon Capture and Sequestration (CCS) projects at each of its LNG facilities.