Venture Global Lands 20-Year LNG Deal with ConocoPhillips

Venture Global Inc's shares jumped 3% in after-hours trading on Thursday after the company announced a 20-year liquefied natural gas supply deal with ConocoPhillips.

The Sales and Purchase Agreement, which starts in 2030, requires ConocoPhillips to purchase 1.0 million tonnes per annum of LNG from Venture Global.

Venture Global CEO Mike Sabel said the company is 'proud' to welcome ConocoPhillips as a long-term partner, citing 'continued market confidence' in its ability to deliver reliable, low-cost U.S. LNG quickly and at scale.

With this deal, Venture Global adds another major energy company to its customer base, extending its contracted supply commitments two decades into the future.