TotalEnergies and Vitol strike US LNG deals with Venture Global

Venture Global, an American producer of liquefied natural gas (LNG) sourced from North American basins, has sealed two liquefied natural gas (LNG) agreements with France’s energy giant TotalEnergies and Vitol, an energy and commodities company.

TotalEnergies has executed a binding agreement for the purchase of approximately 0.85 million tonnes per annum (mtpa) of LNG from Venture Global for around five years, starting in 2026.

In addition, the American producer and Vitol agreed to increase their existing five-year binding LNG agreement to 1.7 mtpa, up from 1.5 mtpa previously announced. The U.S. player claims that both agreements will be supplied from its portfolio.

With over 100 mtpa of capacity in production, construction, or development, Venture Global began producing LNG from its first facility in 2022. The company’s initial three projects, Calcasieu Pass, Plaquemines LNG, and CP2 LNG, are in Louisiana along the Gulf of America (U.S. Gulf of Mexico).

Mike Sabel, Venture Global’s CEO, commented: “These agreements reflect the continued confidence and trust in our ability to deliver reliable, low-cost U.S. LNG to global markets quickly and at scale as demand for energy security continues to grow.

“By offering customers short-, medium-, and long-term supply options, we are providing the flexibility and certainty they need to deliver LNG where it is needed most.”