ConocoPhillips Secures 20-Year LNG Deal with Venture Global

Energy major ConocoPhillips has bolstered its liquefied natural gas (LNG) portfolio by signing a 20-year deal with Venture Global. Under the agreement, ConocoPhillips will purchase one million tonnes of LNG per year from Venture Global starting in 2030.

The move comes as QatarEnergy's LNG operations have been impacted by challenges stemming from the Iran conflict, affecting projects in which ConocoPhillips holds interests.

Venture Global has a substantial LNG capacity with over 100 million tonnes per year in production, construction, or development. The company's first three LNG projects are located in Louisiana.