ConocoPhillips has agreed to buy 1 million tonnes per annum of liquefied natural gas (LNG) from Venture Global under a 20-year sales and purchase agreement starting in 2030, the companies said.
The agreement adds ConocoPhillips as a long-term customer of Venture Global, which has more than 100 MTPA of LNG capacity in production, construction or development.
"Venture Global is proud to welcome ConocoPhillips, one of the world's leading energy companies, as a long-term partner. This agreement reflects continued market confidence in our proven ability to deliver reliable, low-cost U.S. LNG quickly and at scale. We look forward to supporting ConocoPhillips' growing global LNG portfolio for decades to come,” said Venture Global CEO Mike Sabel.
Venture Global began producing LNG from its first facility in 2022. Its first three projects are Calcasieu Pass, Plaquemines LNG and CP2 LNG in Louisiana.
The company also has assets spanning natural gas transportation, LNG production, shipping and regasification, and is developing carbon capture and sequestration projects at each of its LNG facilities.