TotalEnergies, Vitol secure 1 mtpa LNG supply from Venture Global
TotalEnergies and Vitol inked binding deals for a combined 1 mtpa of LNG from Venture Global’s Plaquemines Gulf export terminal, with deliveries set to start in 2026. The contracts mark Venture Global’s first offtake agreements and bolster TotalEnergies’ long-term LNG supply diversification.
1. Agreement Details
Venture Global has signed binding purchase agreements to supply TotalEnergies and Vitol with a combined 1 million tonnes per annum of LNG from its Plaquemines facility in Louisiana. Deliveries are slated to commence in 2026, representing the first commercial offtake deals for the export terminal.
2. Strategic Implications
The deal secures a long-term volume for TotalEnergies’ growing LNG trading portfolio, diversifying its supply sources in the competitive US export market. Vitol’s participation underscores strong trader interest in locking in US LNG capacity ahead of planned global demand growth.