Venture Global and ConocoPhillips Sign 20-Year LNG Deal Starting in 2030

Venture Global has secured a long-term LNG offtake agreement with ConocoPhillips, further expanding the U.S. supermajor’s presence in the U.S. liquefied natural gas (LNG) sector. The agreement, spanning 20 years and starting in 2030, will see ConocoPhillips receive 1 million metric tons per annum of LNG from Venture Global’s portfolio.

The deal highlights Louisiana’s growing role in U.S. LNG exports, with Venture Global’s Calcasieu Pass and Plaquemines terminals accounting for roughly a quarter of the nation’s total LNG export potential. Plaquemines, in particular, boasts a peak feed gas capacity of 3.8 billion cubic feet per day (Bcf/d), making it the second-largest facility of its kind in the U.S. after Cheniere Energy’s Sabine Pass terminal.

Venture Global’s CEO, Mike Sabel, emphasized the company’s ability to provide reliable, low-cost LNG at scale, noting that the deal reflects market confidence in their operations. The company recently shipped its 1,000th cargo, just four years after its first deliveries, and is planning to expand its Calcasieu Pass terminal with a second phase capable of handling 20 million metric tons per annum (MTPA) of LNG.

For ConocoPhillips, this is the latest move in its expanding LNG portfolio, following previous agreements with Sempra Infrastructure and preliminary deals for the proposed Alaska LNG facility. Meanwhile, the global LNG sector faces challenges, including disruptions caused by the ongoing conflict in the Middle East, which has led to attacks on maritime vessels and delays in shipments from Qatar.