Venture Global Secures Long-Term Contract with ConocoPhillips for 1 Million Tonnes of LNG
Venture Global has secured a long-term contract with ConocoPhillips to supply the energy company with 1 million tonnes of LNG annually from 2030. The agreement, which covers about 20 million tonnes of LNG over its full term, will support ConocoPhillips' expanding global LNG portfolio.
Venture Global's shares rose approximately 3% in after-hours trading following the announcement, closing at $12.77 per share. This deal marks another significant long-term buyer for Venture Global's contracted portfolio, as energy companies seek additional LNG supplies amid geopolitical disruptions affecting global gas markets.
According to Mike Sabel, Chief Executive Officer of Venture Global, 'This agreement reflects continued market confidence in our proven ability to deliver reliable, low-cost U.S. LNG quickly and at scale.'