Venture Global and ConocoPhillips Secure 20-Year LNG Deal
A major energy deal has been struck between Venture Global and ConocoPhillips. The two companies have signed a long-term Sales and Purchase Agreement (SPA) for liquefied natural gas (LNG), with ConocoPhillips agreeing to buy 1.0 million tonnes per annum (MTPA) of LNG from Venture Global over the next 20 years, starting in 2030.
Venture Global CEO Mike Sabel welcomed ConocoPhillips as a long-term partner, saying 'This agreement reflects continued market confidence in our proven ability to deliver reliable, low-cost U.S. LNG quickly and at scale.'
The deal is significant for both companies, with Venture Global set to support ConocoPhillips' growing global LNG portfolio. For its part, the partnership will provide a major boost to Venture Global's production and export capabilities.