BP Inks Deal With Venture Global for U.S. LNG Export Project (1)

BP Plc agreed to buy liquefied natural gas from a Venture Global LNG Inc. proposed export terminal in Louisiana, becoming the second company in three weeks to sign a pact for the project.

The Calcasieu Pass facility in Louisiana will supply 2 million tons of LNG per year to BP under a 20-year agreement, Venture Global said in a statement. The deal comes after Portugal’s Galp Energia SGPS SA signed an agreement earlier this month to buy 1 million tons a year from the terminal.

The pact with BP means Calcasieu Pass now has contracts for more than half ...