Venture Global Inc. signed an agreement with Tokyo Gas Co. to supply the utility with liquefied natural gas for 20 years, the US producer’s fourth long-term contract with a Japanese company.
The deal will cover 1 million tons of LNG a year from 2030, according to a statement on Wednesday. Venture Global has signed supply agreements with companies from Japan to Spain over the past six months totaling 7.75 million tons a year, the US producer added.
Venture Global is constructing its third export facility — CP2 — in Louisiana, and operates two others, Plaquemines LNG and Calcasieu Pass. The Arlington, Virginia-based producer is one of the largest US suppliers, boosting the the country’s position as the biggest exporter of the fuel globally.
The company has signed recent deals with Japan’s Mitsui & Co., Spain’s Naturgy Energy Group SA and Greek entity Atlantic-See LNG Trade SA.
Venture Global is currently facing arbitration from customers including Shell Plc over a dispute around the start of long-term contracts for supply from Calcasieu Pass. The facility began exporting cargoes in 2022, but contracts did not begin until earlier this year.
A tribunal panel ruled in favor of Venture Global in regards to Shell, but the oil giant is now appealing the ruling in New York Supreme Court.
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