Venture Global, Inc (NYSE: VG) and ConocoPhillips (NYSE: COP) have signed a 20-year Sales and Purchase Agreement (SPA) under which ConocoPhillips will purchase 1.0 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from Venture Global. The agreement will take effect in 2030 and will provide ConocoPhillips with long-term access to U.S. LNG as the company expands its global LNG portfolio.
“Venture Global is proud to welcome ConocoPhillips, one of the world’s leading energy companies, as a long-term partner,” said Mike Sabel, CEO of Venture Global. “This agreement reflects continued market confidence in our proven ability to deliver reliable, low-cost US LNG quickly and at scale. We look forward to supporting ConocoPhillips’ growing global LNG portfolio for decades to come.”
The agreement adds to Venture Global’s portfolio of long-term LNG supply contracts with international energy companies and supports the company’s plans to expand its production capacity in the United States. Venture Global is an American LNG producer and exporter with more than 100 MTPA of capacity in production, construction or development. The company began producing LNG from its first facility in 2022 and has since become one of the largest LNG exporters in the United States.
Its business covers several parts of the LNG value chain, including natural gas transportation, LNG production, shipping and regasification. This integrated model allows the company to manage operations across the supply chain and support deliveries to international markets.
Venture Global’s first three projects — Calcasieu Pass, Plaquemines LNG and CP2 LNG — are located in Louisiana along the Gulf of America. The company is also developing carbon capture and sequestration projects at each of its LNG facilities. For ConocoPhillips, the agreement provides additional contracted LNG supply from the United States beginning at the start of the next decade. The company has operations and investments across the global energy sector and has been expanding its LNG activities as part of its broader portfolio.
The 20-year agreement represents a long-term commercial arrangement between the two companies and provides visibility on LNG supply volumes through 2050. The transaction also comes as US LNG production and exports continue to play a growing role in international natural gas markets. Long-term supply agreements are being used by producers and buyers to secure future volumes and support investment in LNG infrastructure. The agreement between Venture Global and ConocoPhillips further expands Venture Global’s customer base and strengthens its position in the international LNG market.
