Venture Global signs 20-year deal with PETRONAS

On July 3, 2025, Venture Global, Inc. (NYSE: VG) disclosed a newly inked 20-year Sales and Purchase Agreement (SPA) with PETRONAS LNG Ltd. (PLL), a subdivision of the Malaysian state-owned oil and gas giant PETRONAS. Under this deal, PETRONAS commits to buying 1 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from Venture Global’s CP2 LNG facility over the next two decades. This agreement expands on the existing partnership between the two companies that sees PETRONAS already purchasing 1 MTPA of LNG from Plaquemines LNG.

PETRONAS’s involvement as a significant player in the global LNG industry adds weight to the CP2 LNG project, alongside other customers from Europe, Asia, and beyond. Approximately 10.75 MTPA of the 14.4 MTPA nameplate capacity for CP2 Phase One has already been spoken for, enhancing the project’s outlook and market presence.

Venture Global is committed to being a reliable, cost-effective provider of U.S.-sourced LNG extracted from the abundant natural gas reserves in North America. The company’s operations span the entire LNG supply chain, encompassing production, natural gas transportation, shipping, and regasification. With its Calcasieu Pass facility commencing LNG production in January 2022 and achieving commercial status by April 2025, and its Plaquemines LNG facility starting LNG production in December 2024, Venture Global now focuses on expanding its nameplate production capacity to over 100 MTPA. Their aim is to deliver clean and affordable energy solutions globally while also spearheading Carbon Capture and Sequestration initiatives at their LNG facilities.

Looking ahead, it’s vital to recognize that this announcement bridges the present into a future filled with opportunities and challenges. As Venture Global and PETRONAS solidify their partnership, the energy landscape transforms to accommodate shifting dynamics and demands. Critical factors, such as securing adequate capital, estimating project costs accurately, navigating regulatory hurdles, labor issues, political and economic uncertainties, environmental concerns, and community support, all play crucial roles in shaping the success of such mega-projects.

The global energy sector continues to evolve, driven by a complex interplay of market forces, technological advancements, and regulatory frameworks. As Venture Global charters its course into the future, it stands poised to make a lasting impact on the energy industry and the global transition towards cleaner, sustainable energy sources. The 20-year SPA with PETRONAS underscores a commitment to long-term partnerships and sustainable energy practices in an ever-changing energy landscape.