U.S.-headquartered energy company ConocoPhillips has locked in two decades of LNG supply with Venture Global, an American producer of liquefied natural gas (LNG) sourced from North American basins, reinforcing U.S. export footprint on the global stage.
Venture Global and ConocoPhillips have signed a new, long-term sales and purchase agreement (SPA) for 1.0 million tonnes per annum (mtpa) of LNG for 20 years, starting in 2030.
Mike Sabel, Venture Global’s CEO, commented: "Venture Global is proud to welcome ConocoPhillips, one of the world's leading energy companies, as a long-term partner.
"This agreement reflects continued market confidence in our proven ability to deliver reliable, low-cost U.S. LNG quickly and at scale. We look forward to supporting ConocoPhillips' growing global LNG portfolio for decades to come."
With over 100 mtpa of capacity in production, construction, or development, Venture Global, which began producing LNG from its first facility in 2022, has assets across the LNG supply chain, including LNG production, natural gas transport, shipping, and regasification.
The company’s first three projects, Calcasieu Pass, Plaquemines LNG, and CP2 LNG, are located in Louisiana along the Gulf of America. The firm is also developing carbon capture and sequestration (CCS) projects at each of its LNG facilities.
Venture Global secured multiple SPAs this year, including those with European players, such as EnBW.