Venture Global, Inc. (VG) stock is soaring 5.19% in pre-market trading on Wednesday following the announcement of a significant long-term liquefied natural gas (LNG) supply agreement with Japanese trading house Mitsui & Co., Ltd. The deal marks a major milestone for Venture Global in expanding its presence in the global LNG market.

Under the terms of the agreement, Mitsui will purchase 1.0 million tonnes per annum (MTPA) of LNG from Venture Global for a period of 20 years, with deliveries scheduled to commence in 2029. This marks Venture Global's third long-term contract with a Japanese company, bringing its total long-term commitments for 2025 to an impressive 6.75 MTPA.

The news has been well-received by investors, who see it as a strong indicator of Venture Global's growing market position and future revenue potential. This deal not only strengthens the company's order book but also underscores the increasing global demand for LNG, particularly in the Asian market. The positive momentum comes despite recent target price cuts by Wells Fargo and Scotiabank, suggesting that the market is more focused on Venture Global's expanding contract portfolio and long-term growth prospects in the LNG sector.