ConocoPhillips signs 20-year LNG deal with Venture Global

Oct 1 (Reuters) - Venture ‌Global ​and ​ConocoPhillips said on Thursday they had signed a 20-year liquefied natural ‌gas (LNG) supply agreement under which ConocoPhillips ⁠will buy 1 million tonnes a year of ‌LNG starting in 2030.

The ‌deal comes as ConocoPhillips looks to bolster its LNG portfolio while challenges stemming ​from the Iran conflict have affected QatarEnergy's LNG operations and expansion projects ⁠in which ConocoPhillips holds interests.

Here are more details:

• Under ​the agreement, ConocoPhillips will purchase 1.0 million tonnes a year of LNG ​from Venture Global for ‌20 years, with deliveries beginning in 2030.

• Venture Global said ⁠the agreement will support ConocoPhillips' growing global LNG portfolio.

• ConocoPhillips holds a 30% interest ⁠in QatarEnergy's Ras Laffan LNG project and also ​has stakes in LNG expansion projects in Qatar.

• Venture Global said it has more than 100 ‌MTPA of LNG capacity in production, construction or development.

• The company's ‌first three LNG projects, Calcasieu Pass, ⁠Plaquemines LNG and ‌CP2 LNG, are ​located in Louisiana.

(Reporting by Varun Sahay in Bengaluru; Editing by Tasim ‌Zahid)

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