ConocoPhillips has signed a 20-year agreement to buy liquefied natural gas from Venture Global, locking in another long-term supply commitment as global buyers compete for U.S. LNG capacity.
Under the agreement announced Thursday, ConocoPhillips will purchase 1 million metric tonnes per year beginning in 2030. Venture Global confirmed the deal in a company statement, while Reuters separately reported the commercial terms.
Long-term LNG contracting remains active
The contract adds to a wave of multi-year agreements tied to new U.S. export projects. Producers are using long-duration sales commitments to support financing and construction, while buyers are seeking supply security after years of volatility in global gas markets.
Venture Global has expanded rapidly through projects including Calcasieu Pass and Plaquemines LNG in Louisiana. ConocoPhillips, meanwhile, has built a larger global LNG portfolio through equity investments, marketing arrangements and long-term purchases.
Supply begins in 2030
The start date places the contract in the next phase of U.S. LNG growth rather than the current winter market. The agreement gives ConocoPhillips additional volumes it can market globally while giving Venture Global a large investment-grade buyer.
The deal arrives as LNG prices remain elevated and European and Asian importers continue competing for flexible cargoes. Long-term contracts can reduce exposure to spot-market swings, although final economics still depend on project costs, shipping and benchmark pricing.
Sources: Venture Global company announcement; Reuters, Oct. 1, 2026.
