Key facts
- ConocoPhillips will purchase 1 million tonnes per year of LNG from Venture Global for 20 years.
- Deliveries under the agreement are set to begin in 2030.
- The deal supports ConocoPhillips' growing global LNG portfolio.
- ConocoPhillips holds a 30% interest in QatarEnergy's Ras Laffan LNG project.
- Venture Global has over 100 MTPA of LNG capacity in production, construction, or development.
- Venture Global's first three LNG projects are located in Louisiana.
ConocoPhillips has entered into a 20-year liquefied natural gas (LNG) supply agreement with Venture Global, agreeing to purchase 1 million tonnes per year of LNG starting in 2030. This move is intended to strengthen ConocoPhillips' LNG portfolio, particularly as geopolitical tensions related to the Iran conflict have impacted QatarEnergy's LNG operations and expansion projects, in which ConocoPhillips holds stakes.
Venture Global stated that the agreement will bolster ConocoPhillips' expanding global LNG presence. ConocoPhillips has a 30% stake in QatarEnergy's Ras Laffan LNG project and also participates in other LNG expansion projects in Qatar. Venture Global reported having over 100 million tonnes per annum (MTPA) of LNG capacity either in production, under construction, or in development, with its initial three projects—Calcasieu Pass, Plaquemines LNG, and CP2 LNG—all situated in Louisiana.