Venture Global, Naturgy of Spain sign 20-year LNG offtake deal

Venture Global Inc. has signed a long-term agreement to supply Spanish company Naturgy with 1 million tonnes/year (tpy) LNG, the company said in a release Nov. 10.

The 20-year agreement, which begins in 2030, is an expansion of Venture Global’s LNG contracting to Spain. To date, Venture Global has supplied Spain with 35 cargoes from its Calcasieu Pass and Plaquemines plants.

In a separate release about the deal, Naturgy said the LNG would be supplied from Venture Global's 20-million tpy CP2 LNG plant in Cameron Parish, La. In this year's third quarter, the CP2 project received final authorization from the US Department of Energy for LNG exports to non-free trade agreement nations and the company reached final investment decision to proceed with Phase 1 development.  

Jon Ganuza, director general of supply and wholesale markets at Naturgy, said the contract "strengthens our role as a global supplier of natural gas and helps us guarantee a secure, flexible, and competitive supply to all our customers." 

Venture Global said the deal marks 5.75 million tpy of long-term contracts signed by the company to date this year.