Market Flux Event
Venture Global Signs 20-Year LNG Deal With ConocoPhillips for 1 Million Tonnes Per Year
Read this in the Market Flux appVenture Global and ConocoPhillips announced a 20-year liquefied natural gas sales and purchase agreement on Thursday, under which ConocoPhillips will buy 1 million tonnes of LNG per year beginning in 2030. The full contract implies roughly 20 million tonnes of supply over its term, sourced from Venture Global's U.S. LNG portfolio.
Venture Global shares jumped on the news, reflecting investor confidence in the deal as a long-term revenue anchor for the LNG exporter.
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Sources
- WallstengineVenture Global $VG has signed a 20-year LNG supply agreement with ConocoPhillips. $COP will buy 1.0 million tonnes of LNG per year starting in 2030, implying roughly 20 million tonnes over the full contract term. Supply will come from Venture Global’s U.S. LNG portfolio.
- reuters.comConocoPhillips signs 20-year LNG deal with Venture Global
- ReutersConocoPhillips signs 20-year LNG deal with Venture Global