Announcement
Venture Global Inc (NYSE:VG) announced a 20‑year sales and purchase agreement with ConocoPhillips (NYSE:COP) under which ConocoPhillips will buy 1.0 million tonnes of liquefied natural gas per annum from Venture Global beginning in 2030. The agreement extends Venture Global’s contracted supply commitments for two decades and adds a major energy company to its customer base.
Market Reaction
Following the announcement, Venture Global shares rose approximately 3 % in after‑hours trading on Thursday.
Company Background
Venture Global began producing LNG from its first facility in 2022 and has grown to become one of the largest LNG exporters in the United States. The company currently possesses more than 100 million tonnes per annum of LNG capacity that is in production, under construction, or in development. Its portfolio includes three projects located in Louisiana along the Gulf of Mexico – Calcasieu Pass, Plaquemines LNG, and CP2 LNG – and it operates a vertically integrated business model covering production, natural‑gas transport, shipping and regasification.
Executive Comment
CEO Mike Sabel said the partnership reflects continued market confidence in Venture Global’s ability to deliver reliable, low‑cost U.S. LNG quickly and at scale.