(Reuters) -Venture Global said on Tuesday it has signed a 20-year sales and purchase agreement, or SPA, with Japan’s capital city gas supplier, Tokyo Gas, to supply it with 1 million metric tonnes per annum of liquefied natural gas, starting in 2030. The agreement marks Venture Global’s fourth long-term contract with a Japanese company and […]
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Venture Global, Tokyo Gas sign 20-year LNG supply deal
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(Reuters) -Venture Global said on Tuesday it has signed a 20-year sales and purchase agreement, or SPA, with Japan’s capital city gas supplier, Tokyo Gas, to supply it with 1 million metric tonnes per annum of liquefied natural gas, starting in 2030.
The agreement marks Venture Global’s fourth long-term contract with a Japanese company and the U.S. LNG exporter has in the last six months signed SPAs for 7.75 million tonnes per annum of the superchilled gas, the company said in a statement.
Venture Global is the U.S.’ second-largest LNG exporter and last month was responsible for 30% of the U.S. total LNG output, according to data compiled by LSEG.
The U.S. remains the world’s largest exporter of the superchilled gas.
Global LNG demand has surged since Russia’s invasion of Ukraine in 2022, prompting buyers in Europe and Asia to secure long-term supply deals with U.S. exporters. Japan, the world’s second-largest importer of LNG after China, is seeking stable and flexible energy supplies to support the expansion of data centers.
Earlier this month, Venture Global signed a deal with Mitsui, following an agreement with JERA in 2023.
(Reporting by Pranav Mathur in Bengaluru and Curtis Williams in Houston; Editing by Alan Barona)