(WO) — ConocoPhillips has signed a 20-year sales and purchase agreement (SPA) with Venture Global to purchase 1 MMtpa of liquefied natural gas (LNG), beginning in 2030.
The long-term agreement will provide ConocoPhillips with additional U.S. LNG supply as the company continues to develop its global LNG portfolio.
Venture Global CEO Mike Sabel said the agreement establishes ConocoPhillips as a long-term customer and reflects continued demand for U.S. LNG.
“This agreement reflects continued market confidence in our proven ability to deliver reliable, low-cost U.S. LNG quickly and at scale,” Sabel said. “We look forward to supporting ConocoPhillips’ growing global LNG portfolio for decades to come.”
The companies did not disclose the financial terms of the agreement or identify which Venture Global LNG facility will supply the contracted volumes.
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