HOUSTON: Venture Global, Inc. (NYSE: VG) has signed a 20-year Sales and Purchase Agreement (SPA) with PETRONAS LNG Ltd. (PLL), a subsidiary of Malaysia’s state-owned energy giant PETRONAS, the company announced Friday.
Under the agreement, PETRONAS will purchase 1 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from Venture Global’s third export facility, CP2 LNG, located in Louisiana. The deal builds on an existing agreement between the two companies for 1 MTPA of LNG from Venture Global’s Plaquemines LNG facility.
“PETRONAS is a world-class partner in the LNG industry,” Venture Global said in a statement. “Their participation in CP2 LNG underscores the strategic importance of this project to global energy supply and security.”
The CP2 LNG project has already secured commitments for approximately 10.75 MTPA of its 14.4 MTPA nameplate capacity for Phase One, with customers spanning Europe, Asia and other global markets.
Venture Global’s first facility, Calcasieu Pass, began LNG production in January 2022 and reached commercial operations in April 2025. Its second facility, Plaquemines LNG, began production in December 2024. The company is currently developing more than 100 MTPA of nameplate production capacity and is integrating carbon capture and sequestration (CCS) technologies across its operations.
Venture Global positions itself as a long-term, low-cost provider of U.S. LNG, sourcing gas from North America’s resource-rich basins and delivering it through a vertically integrated supply chain.