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Venture Global, an American producer of liquefied natural gas (LNG) sourced from North American basins, has struck a long-term liquefied natural gas (LNG) agreement with Vitol, an energy and commodities company.
This binding agreement for the purchase of approximately 1.5 million tonnes per annum (mtpa) of U.S. LNG from Venture Global for five years is set to begin in 2026. The LNG will be supplied from the American player’s portfolio.
Mike Sabel , Venture Global’s CEO, commented: “Global demand for flexible, reliable U.S. LNG is rapidly growing, and Venture Global is proud to work with premier LNG trading companies like Vitol to provide this critical supply to the market.
“Thanks to our innovative model, we have the ability to provide our customers with short, medium, and long-term LNG supply, and this agreement is another important step in diversifying the tenor of our LNG portfolio.”
With over 100 mtpa of capacity in production, construction, or development, Venture Global began producing LNG from its first facility in 2022. The company’s vertically integrated business includes assets across the LNG supply chain, including LNG production, natural gas transport, shipping, and regasification.
The firm’s first three projects, Calcasieu Pass , Plaquemines LNG , and CP2 LNG , are located in Louisiana along the Gulf of America. Venture Global is developing carbon capture and sequestration (CCS) projects at each of its LNG facilities.
Pablo Galante Escobar , Global Head of LNG at Vitol, underlined: “Vitol is delighted to be working with Venture Global, a leading producer and supplier of LNG to world markets.
“LNG is important to many economies worldwide. Through this transaction Vitol is expanding its supply base to be able to offer diverse and reliable sources of energy to our customers and partners around the world.”