Venture Global and ConocoPhillips sign 20‑year LNG supply agreement
Venture Global and ConocoPhillips announced a sales and purchase agreement under which ConocoPhillips will buy 1.0 million tonnes of LNG per year from Venture Global for 20 years, with deliveries beginning in 2030. The deal expands ConocoPhillips' LNG offtake portfolio and provides Venture Global with a long‑term customer. Both companies highlighted the agreement as a sign of confidence in U.S. LNG supply.
Why it matters
Venture Global expects the contract to generate stable, long‑term revenue and support its growth strategy, according to the company’s statement. ConocoPhillips views the supply as a way to broaden its LNG portfolio and meet its target of 10‑15 MMtpa of offtakes.
Key facts
- 1ConocoPhillips will purchase 1.0 million tonnes per annum of LNG from Venture Global. recorder.ca
- 2The agreement runs for 20 years, with deliveries starting in 2030. recorder.ca
- 3Venture Global has over 100 MTPA of LNG capacity in production, construction or development. recorder.ca
- 4Venture Global’s stock closed up 1.53% at $127.06 on Thursday after the announcement. rttnews.com
- 5ConocoPhillips aims to offtake 10‑15 MMtpa of LNG overall. rigzone.com
Summary written by AlphAI from 8 of 8 sources. Not investment advice. Figures are as stated by the linked sources.