Venture Global Doubles LNG Supply Deal to 1M Metric Tons/Year

Venture Global said it is expanding its long-term liquefied natural gas supply agreement with Greece's Atlantic-SEE LNG Trade, doubling volumes to 1 million metric tons a year.

The expanded deal locks in additional offtake for Venture Global's Plaquemines LNG export facility under construction in Louisiana. The company has signed multiple long-term contracts with European buyers as the continent shifts away from Russian pipeline gas.

Venture Global did not disclose financial terms or the original volume of the agreement. The company said the new deal doubles the previous commitment.

The expansion comes as European utilities and trading firms race to secure long-term LNG supply. U.S. exports to Europe surged after Russia's invasion of Ukraine, and buyers are now locking in 15- to 20-year contracts to avoid spot-market volatility.

Cheniere Energy, the largest U.S. LNG exporter, has also signed long-term deals with European buyers. Venture Global's Plaquemines facility is expected to start producing LNG in 2025, adding to the company's export capacity.

Venture Global carries an Alpha Score of 51 out of 100, a Mixed rating that reflects its early-stage production profile and the execution risk tied to its Plaquemines facility. The stock rose 0.9% in post-market trading Thursday after the announcement.

The deal with Atlantic-SEE adds to Venture Global's contracted volumes ahead of first LNG production. The company has said it plans to reach a total export capacity of 20 million metric tons a year across its projects.