Petronas Signs Second Long-Term LNG Agreement with Venture Global

Petroliam Nasional Berhad (Petronas), Malaysia’s state-owned energy company, has entered into a second long-term liquefied natural gas (LNG) supply agreement with US-based exporter Venture Global LNG. The new 20-year sales and purchase agreement was confirmed by Venture Global on Thursday and will see Petronas acquiring one million tonnes of LNG annually from the CP2 LNG project in Louisiana.

This latest agreement further strengthens the partnership between the two firms, building on a previous supply arrangement for LNG sourced from Venture Global’s Plaquemines LNG facility, which commenced exports in late 2023. The CP2 project represents Venture Global’s third major LNG export terminal and is currently in the process of securing final financing.

The signing comes at a crucial time for Venture Global, which has faced investor scrutiny following a scaled-down public offering earlier this year. The company is also currently engaged in arbitration proceedings with customers of its first LNG facility, Calcasieu Pass, with preliminary rulings anticipated in the second half of 2025.

-Bloomberg

Share this post :

Facebook
Twitter
LinkedIn
Scroll to Top

Subscribe
FREE Newsletter