Venture Global and ConocoPhillips sign 20-year LNG deal

Venture Global and ConocoPhillips have announced a 20-year long-term Sale and Purchase Agreement (SPA) for liquefied natural gas (LNG). Under the terms of the agreement, ConocoPhillips will purchase 1 million metric tons per annum (MTPA) of LNG from Venture Global, with deliveries scheduled to begin in 2030.

Venture Global CEO Mike Sabel stated that the partnership reflects market confidence in the company’s ability to provide reliable, low-cost American LNG at scale. The agreement comes amid a broader industry trend of increasing LNG exposure following global energy market shifts.

While Venture Global has previously faced legal challenges from other major energy companies regarding its spot market sales practices, the company recently won an arbitration case against Shell, which ruled that it had not breached its contractual obligations to long-term customers.