Venture Global signs 20-year LNG supply deal with Spain's Naturgy

Reuters
2025/11/10
Venture Global signs 20-year LNG supply deal with Spain's Naturgy

Nov 10 (Reuters) - Venture Global VG.N said on Monday it has signed a 20-year sales and purchase agreement with Spain's Naturgy NTGY.MC to supply 1 million metric tons per annum of liquefied natural gas starting in 2030.

The U.S.-based LNG producer said this would mark Spain's first long-term contract for U.S. LNG since Venture Global's first contract in 2018. Venture Global said it has supplied Spain with 35 cargoes to date from its Calcasieu Pass and Plaquemines facilities.

The company added it has secured 5.75 MTPA of long-term contracts so far for delivery in 2025.

"The signing of this agreement, along with the strong commercial momentum we've achieved over the past six months, reflects the continued customer confidence in our company and the robust demand for LNG globally," said Mike Sabel, CEO of Venture Global.

The announcement follows Venture Global's recent agreement with Greece, under which Greece will import 700 million cubic metres of U.S. LNG annually starting in 2030. The 20-year deal came just weeks after the European Union approved a ban on Russian LNG beginning in 2027, over the war in Ukraine.

Venture Global posted a third-quarter profit on Monday, compared to a year-ago loss, helped by increased output from its Plaquemines liquefied natural gas plant in Louisiana and strong LNG demand.

(Reporting by Anmol Choubey in Bengaluru; Editing by Emelia Sithole-Matarise)

((anmol.choubey@thomsonreuters.com;))

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