Venture Global Secures 20-Year LNG Deal with Italy's Eni for CP2 Project

Venture Global Inc. (NYSE:VG) is one of the most profitable new stocks to buy now. On July 16, Venture Global and Italy’s Eni announced a new 20-year Sales and Purchase Agreement/SPA. Under the agreement, Eni will purchase 2 million tonnes per annum/MTPA of liquefied natural gas/LNG from CP2 LNG, which is Venture Global’s third project.

The deal marks Eni’s first long-term agreement with a US LNG producer. With this new contract, ~13.5 MTPA of CP2 Phase One has now been sold. This brings the total contracted capacity for all of Venture Global’s projects to 43.5 MTPA. To date, Venture Global has already supplied Italy with nearly 40 cargoes of US LNG from its operational Calcasieu Pass and Plaquemines LNG facilities, which began producing LNG in 2022 and December 2024, respectively.

CP2 LNG is located in Louisiana along the Gulf of America and is an important project for global energy supply and security, as it attracts international customers from Europe, Asia, and other regions. Venture Global aims to produce and export over 100 MTPA of low-cost US LNG across its projects in production, construction, or development.

Venture Global Inc. (NYSE:VG) develops, constructs, and produces natural gas liquefaction and export projects near the US Gulf Coast in Louisiana.

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Disclosure: None. This article is originally published at Insider Monkey.