Venture Global signs 20-yr LNG supply deal with Spain's Naturgy
Venture Global has signed a 20-yr sales and purchase agreement with Spain's Naturgy to supply 1 metric MMtpy of liquefied natural gas (LNG) starting in 2030.
The U.S.-based LNG producer said this would mark Spain's first long-term contract for U.S. LNG since Venture Global's first contract in 2018. Venture Global said it has supplied Spain with 35 cargoes to date from its Calcasieu Pass and Plaquemines facilities.
The company added it has secured 5.75 metric MMtpy of long-term contracts so far for delivery in 2025.
"The signing of this agreement, along with the strong commercial momentum we've achieved over the past six months, reflects the continued customer confidence in our company and the robust demand for LNG globally," said Mike Sabel, CEO of Venture Global.
The announcement follows Venture Global's recent agreement with Greece (learn more), under which Greece will import 700 MMm3 of U.S. LNG annually starting in 2030. The 20-yr deal came just weeks after the European Union approved a ban on Russian LNG beginning in 2027, over the war in Ukraine.
Venture Global posted a third-quarter profit on Monday, compared to a year-ago loss, helped by increased output from its Plaquemines LNG plant in Louisiana and strong LNG demand.
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