Venture Global, ConocoPhillips Signed 20-Year LNG Deal
The companies entered a long-term agreement for the purchase of 1.0 million tonnes of LNG per year.
Updated on Oct. 1, 2026 in Oil and Gas
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Venture Global and ConocoPhillips have finalized a 20-year sales and purchase agreement for liquefied natural gas. Under the terms of the deal, ConocoPhillips will acquire 1.0 million tonnes per annum of LNG from the producer.
Why it matters
This long-term commitment strengthens the pipeline for future energy exports and secures a stable supply contract for the involved parties. It marks a significant expansion of production capacity commitments in the Louisiana energy sector.
The agreement covers a 20-year term with an annual purchase volume of 1.0 million tonnes of LNG. Venture Global currently maintains over 100 MTPA of capacity across its production, construction, and development portfolios.
The players
Venture Global
An energy company with significant liquefied natural gas projects in Louisiana and corporate headquarters in Arlington, Virginia.
ConocoPhillips
A global energy corporation that has entered into a long-term supply agreement to secure future natural gas resources.
The details
Starting in 2030, ConocoPhillips will begin purchasing the agreed-upon quantity of LNG from Venture Global. The deal bolsters the operational scope of Venture Global, which oversees various energy projects across Louisiana, including the Calcasieu Pass, Plaquemines LNG, and CP2 LNG facilities.
Timeline
Venture Global began producing LNG in 2022.
The agreement between the companies was announced on October 1, 2026.
Deliveries under the sales and purchase agreement are scheduled to begin in 2030.
Market Landscape
This agreement reflects the broader industry trend of securing long-term supply contracts to support the continued expansion of U.S. LNG export capacity. It positions Venture Global as a key supplier for major global energy firms, further consolidating its role in the competitive natural gas market.
This deal secures long-term industrial supply and does not immediately affect retail energy pricing for individual consumers. Households should view this as a component of the state's long-term energy infrastructure and production strategy.
The takeaway
Long-term supply agreements are vital for stabilizing the volatile energy market and ensuring consistent output for major producers. Investors and industry observers should monitor these contracts as indicators of future production capacity and market demand.
Further reading
For more on industry developments, see our Oil and Gas section.
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