Venture Global and ConocoPhillips have solidified a long-term partnership in the liquefied natural gas (LNG) market with a 20-year supply agreement. The deal, which begins in 2030, will see ConocoPhillips receive 1 million tons of LNG per year (mtpa) from Venture Global. This new purchase agreement, known as a Sales and Purchase Agreement (SPA), ensures ConocoPhillips a steady supply of US LNG, while Venture Global gains another major buyer for its expanding portfolio.
Venture Global's CEO, Mike Sabel, emphasized that the agreement reflects market confidence in the company's ability to deliver reliable and cost-effective US LNG. The company has been rapidly expanding its LNG capacity, with over 100 mtpa across its facilities, including Calcasieu Pass, Plaquemines LNG, and CP2 in Louisiana. These projects form the backbone of Venture Global's strategy to become a leading US LNG supplier.
The partnership also highlights the growing importance of long-term contracts in the US LNG sector. Venture Global has already secured similar agreements with other international buyers, such as the German energy company EnBW. The company is further investing in carbon capture and storage projects to integrate emissions management into its production expansion.
With deliveries set to begin in 2030, both companies are positioning themselves for long-term success in the global LNG market. The agreement underscores the strategic role of US LNG in meeting international energy demand while supporting sustainable growth.