ConocoPhillips Signs 20-Year LNG Supply Deal With Venture Global Starting 2030

ConocoPhillips (NYSE:COP) has signed a 20-year agreement with Venture Global to purchase 1 million tons of liquefied natural gas annually beginning in 2030, expanding the U.S. producer's LNG exposure amid robust global demand. Venture Global CEO Mike Sabel said the deal reflects market confidence in the company's ability to deliver "reliable, low-cost U.S. LNG quickly and at scale." The agreement comes as geopolitical disruptions — including QatarEnergy's force majeure — have tightened global LNG supply and driven major energy firms to secure long-term contracts. The deal also lands amid ongoing litigation between Venture Global and several international oil majors. Shell, BP, Repsol and others sued the company in 2023, alleging it withheld contractually committed cargoes to sell on the higher-priced spot market. Shell lost its arbitration in August; BP won its case two months later. Venture Global holds roughly 100 million tons per year of total LNG capacity across operating, construction and development stages.