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Venture Global & ConocoPhillips Ink Major LNG Deal

2 Oct

Summary

ConocoPhillips will purchase 1.0 million tonnes of LNG annually.
The agreement is for a duration of 20 years, starting in 2030.
Venture Global is a major US producer of low-cost liquefied natural gas.

Venture Global and ConocoPhillips have entered into a new, long-term Sales and Purchase Agreement for liquefied natural gas (LNG). This agreement will see ConocoPhillips purchase 1.0 million tonnes per annum (MTPA) of LNG from Venture Global. The contract is set to run for 20 years, commencing in 2030.

This partnership signifies a significant step for both energy companies. Venture Global, a prominent U.S. producer of low-cost LNG, currently has over 100 MTPA of capacity in various stages of development. Its existing facilities are located in Louisiana along the Gulf of America. The company is also actively developing carbon capture and sequestration projects at its LNG sites.

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