ConocoPhillips signs 20-year LNG deal with Venture Global
COP•ConocoPhillips will buy 1 million tonnes of LNG annually from Venture Global for 20 years, with deliveries starting in 2030.
1. LNG supply agreement
ConocoPhillips and Venture Global said they signed a 20-year liquefied natural gas supply agreement. ConocoPhillips will purchase 1 million tonnes a year, with deliveries beginning in 2030.
2. Portfolio and project details
The deal comes as ConocoPhillips looks to bolster its LNG portfolio while challenges stemming from the Iran conflict have affected QatarEnergy's LNG operations and expansion projects in which ConocoPhillips holds interests. ConocoPhillips owns a 30% interest in QatarEnergy's Ras Laffan LNG project and stakes in other Qatar LNG expansion projects. Venture Global said it has more than 100 million tonnes per annum of LNG capacity in production, construction or development; its first three projects are in Louisiana.
