Venture Global, Inc. (NYSE: VG) and ConocoPhillips (NYSE: COP) have signed a long-term liquefied natural gas sales and purchase agreement, according to a press release from Venture Global.

Under the agreement, ConocoPhillips will purchase 1.0 million tonnes per annum of LNG from Venture Global for 20 years, beginning in 2030.

Venture Global CEO Mike Sabel said the agreement "reflects continued market confidence in our proven ability to deliver reliable, low-cost U.S. LNG quickly and at scale."

Venture Global is an LNG producer and exporter with facilities in Louisiana along the Gulf of America. The company began producing LNG from its first facility, Calcasieu Pass, in 2022. Its other projects include Plaquemines LNG and CP2 LNG, both also located in Louisiana.