Venture Global and ConocoPhillips Announce 20-Year LNG Sales and Purchase Agreement
The agreement adds 20 years of supply for ConocoPhillips as Venture Global expands its U.S. LNG customer base.
- On Thursday, Venture Global and ConocoPhillips announced a 20-year liquefied natural gas agreement under which ConocoPhillips will purchase 1.0 million tonnes per annum starting in 2030.
- ConocoPhillips seeks to bolster its LNG portfolio while challenges stemming from the Iran conflict have affected QatarEnergy's operations, in which ConocoPhillips holds a 30% interest.
- Venture Global operates three Louisiana-based LNG projects—Calcasieu Pass, Plaquemines LNG, and CP2 LNG—maintaining over 100 million tonnes per annum of total capacity in production or development.
- Despite previous lawsuits from major oil companies alleging contract violations, a tribunal ruled in August that Venture Global met its contractual obligations, clearing the path for this partnership.
- Venture Global CEO Mike Sabel said the agreement reflects "market confidence" in the company's ability to deliver reliable, low-cost U.S. LNG at scale for decades to come.
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ConocoPhillips agreed to buy from Venture Global 1 million tons of liquefied natural gas per year for 20 years, starting in 2030. Exclusive material for subscribers. To have full access, access the link of the material and register.
Venture Global Announces Unprecedented Long-Term 20-Year Agreement (Starting in 2030) to Supply 1 Million Tonnes Per Annum (MTPA) of LNG to ConocoPhillips - What Atlantic SEE LNG Saw That Others Didn't See Coming
Venture Global and ConocoPhillips announce 20-Year LNG Sales and Purchase Agreement
Venture Global and ConocoPhillips announced a long-term SPA under which ConocoPhillips will buy 1.0 MTPA of LNG for 20 years starting in 2030, highlighting Venture Global’s expanding U.S. LNG export capacity and industry partnerships.
New landmark agreement in the global liquefied natural gas (LNG) market for Venture Global, which expands its network of major international customers. The US company has agreed with ConocoPhillips to supply 1 million tonnes of liquefied natural gas annually for 20 years, with deliveries starting in 2030. The agreement further strengthens Venture Global's position in the LNG market as the company expands its production base and long-term contra…
Venture Global and ConocoPhillips Announce 20-Year LNG Sales and Purchase Agreement
ARLINGTON, Va. — Today, Venture Global, Inc. (NYSE: VG) and ConocoPhillips (NYSE: COP) announced a new, long-term Sales and Purchase Agreement (SPA) for liquefied natural gas (LNG). Under the SPA, ConocoPhillips will buy 1.0 million tonnes per annum (MTPA) of LNG from Venture Global for 20 years, starting in 2030. “Venture Global is proud to […]
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