Venture Global, a US producer of LNG from North American basins, has concluded two LNG agreements with French energy giant TotalEnergies and Vitol, an energy and commodities company.
TotalEnergies has entered into a binding agreement to purchase approximately 0.85 million tons per year of LNG from Venture Global for a period of approximately five years, starting in 2026.
In addition, the US producer and Vitol agreed to increase the current binding five-year LNG agreement to 1.7 million tons per year, up from 1.5 million tons per year. Previously announced. The American player claims that both agreements will be provided from his wallet.
With a capacity of more than 100 million tons per year in production, construction or development, Venture Global began LNG production from its first facility in 2022. The company’s three initial projects, Calcasieu Pass, Plaquemines LNGand CP2 LNGlocated in Louisiana along the Gulf of America (US Gulf of Mexico).
Mike SabelVenture Global CEO commented: “These agreements reflect continued confidence in our ability to deliver reliable, low-cost U.S. LNG to global markets quickly and at scale as demand for energy security continues to grow.
“By offering customers supply options in the short, medium and long term, we are providing the flexibility and certainty they need to deliver LNG where it is needed most.”
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