Italy's Edison signs 20-year contract to buy US LNG
- Italian utility will buy 1 million tons per annum of LNG from Venture Global

Italian utility Edison, owned by France's EDF, along with U.S.-based Venture Global have entered into a liquefied natural gas (LNG) sales and purchase agreement (SPA), Edison announced on Wednesday.

The SPA concerns the purchase by Edison of 1 million tons per annum of LNG (equivalent to approximately 1.4 billion cubic meters of natural gas per year) from the Calcasieu Pass LNG export facility, currently being developed by Venture Global in Cameron Parish, Louisiana, in the U.S.

Under this SPA, Edison will purchase gas on a free-on-board basis for a 20-year term starting from the commercial operation date of the Calcasieu Pass facility, currently expected in 2021.

"This agreement will contribute to Edison’s gas supply portfolio competitiveness and diversification, further enhancing Edison’s ability to meet the Group’s customers’ requirements," the statement read.

By Ebru Sengul

Anadolu Agency





28 Sep,2017