Another major development from the international LNG market has emerged, highlighting just how timely and forward-thinking Atlantic SEE LNG Trade was when it secured a long-term liquefied natural gas supply agreement with American company Venture Global last November. Atlantic SEE LNG Trade is a joint venture in which the AKTOR Group holds a 60% stake and DEPA Commercial holds 40%. The new 20-year agreement between Venture Global and ConocoPhillips demonstrates that the value of long-term contracts is no longer limited to traditional natural gas buyers — it now extends to major international producers and industry groups that are simultaneously competitors in the same market.
Read also: LNG: Major deal between Venture Global and ConocoPhillips for 1 million tonnes per year — What Atlantic SEE LNG Trade saw coming
Atlantic SEE LNG Trade’s first-mover advantage and the new Venture Global agreement
This is precisely the factor that retroactively validates the strategic decision made by Atlantic SEE LNG Trade and Alexandros Exarchos. In a market where securing reliable LNG volumes over the long term is becoming a critical factor in energy security, the Greek joint venture had already locked in multi-year access to American LNG — before this trend became even more pronounced across the global market. Specifically, Venture Global yesterday announced a major 20-year long-term agreement, set to begin in 2030, for the supply of 1,000,000 tonnes of LNG per annum (MTPA) to ConocoPhillips from Houston.
ConocoPhillips is a company with more than a century of experience in the oil and gas sector, producing LNG at various locations around the world. When one of the world’s largest energy giants chooses to “lock in” LNG volumes from Venture Global for two decades, it confirms the growing importance of long-term contracts in a market where demand is rising and supply availability can no longer be taken for granted. The latest agreement with ConocoPhillips further strengthens Venture Global’s position in the LNG market, as the company continues to expand its production base and long-term contract portfolio.
*Originally published in Apogevmatini
According to the company, it now holds more than 100,000,000 tonnes per annum (MTPA) of LNG capacity across projects that are in production, under construction, or in development. Venture Global’s first three LNG projects — Calcasieu Pass, Plaquemines LNG, and CP2 LNG — are all located in Louisiana, USA, a region that serves as a key hub for American LNG production and exports. Venture Global stated that the new agreement will support the development of ConocoPhillips’ global LNG portfolio, while also adding another long-term buyer to its growing customer base. “We are proud to welcome ConocoPhillips, one of the world’s leading energy companies, as a long-term partner,” said Venture Global CEO Mike Sabel. He noted that the agreement “reflects the market’s continued confidence in our proven ability to deliver reliable, low-cost LNG from the United States, quickly and at scale.”
He further stated that Venture Global looks forward to supporting the development of ConocoPhillips’ global LNG portfolio for decades to come. For ConocoPhillips, the agreement is part of its broader strategy to strengthen its presence in the LNG market. The American energy company holds a 30% stake in QatarEnergy’s Ras Laffan LNG project and is also involved in LNG capacity expansion projects in Qatar.
International agreements
Venture Global has recently signed a series of international LNG supply agreements, with the Greek joint venture Atlantic SEE LNG Trade — the AKTOR-DEPA Commercial consortium — included among its newest partnerships. The same agreement portfolio features major international buyers such as China Gas, Trafigura, TotalEnergies, and Vitol. This development adds significant weight to Atlantic SEE LNG Trade’s agreement: the decision to lock in LNG volumes for 20 years was not merely a commercial transaction, but a well-timed strategic move in a market where supply security and long-term volume assurance are becoming increasingly vital.
