September 27, 2017 / 1:44 PM / a year ago

Italy's Edison agrees to buy 1 million tons/y of U.S. LNG from Venture Global

MILAN (Reuters) - Edison, the Italian utility owned by France’s EDF (EDF.PA), has agreed to buy 1 million tons of liquefied natural gas (LNG) per year from Venture Global LNG, the companies said on Wednesday.

FILE PHOTO: A logo of the Edison Company is seen at the hydroelectric power plant "Carlo Esterle" of the Edison Energy near Milan, northern Italy, March 10, 2016. REUTERS/Alessandro Bianchi

The LNG will come from the Calcasieu Pass LNG export facility Venture Global is developing in the United States, a joint statement by the two companies said.

Under the deal Edison will buy the gas on a free-on-board basis for a period of 20 years starting from when the facility begins commercial operations in 2021.

Reporting by Stephen Jewkes, editing by Giulia Segreti

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