Venture Global signs 20-year LNG supply deal with Greek joint venture

Venture Global Inc. (NYSE: VG) announced a 20-year liquefied natural gas sales and purchase agreement with ATLANTIC – SEE LNG TRADE S.A., a newly formed Greek joint venture between companies AKTOR and DEPA.

The agreement calls for Venture Global to supply a minimum of 0.5 million tonnes per annum of U.S. LNG starting in 2030. Atlantic-See has the option to expand its purchase commitment under the terms of the deal.

The agreement represents Greece's first long-term LNG supply contract with a U.S. exporter, according to the press release. The deal was announced at the 6th Partnership for Transatlantic Energy Cooperation conference in Athens.

Venture Global previously invested in regasification capacity at Greece's Alexandroupolis LNG import terminal, accounting for approximately 25% of the terminal's total capacity. The terminal serves as an entry point for U.S. LNG into Central and Eastern Europe.

"Venture Global is thrilled to expand our energy partnership with Greece and bring additional LNG supply to this critical region, building on our previous investment in the vertical corridor through the Alexandroupolis terminal," said Venture Global CEO Mike Sabel.

Venture Global operates LNG production facilities in Louisiana and has over 100 million tonnes per annum of capacity in production, construction, or development. The company began LNG production from its first facility in 2022.

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