Venture Global (VG) Recoups 7.9% Gain on Bagging 2 Multi-Year Supply Deals

We recently published Market Beaters: 10 Stocks Defying the Odds. Venture Global Inc. (NYSE:VG) is one of the best-performing stocks on Wednesday.

Venture Global bounced back by 7.86 percent on Wednesday to close at $8.12 after bagging two long-term supply agreements with international companies this week.

In a statement on the same day, Venture Global Inc. (NYSE:VG) said it entered into a 20-year agreement with Japan-based Mitsui & Co. Ltd. for the supply of 1 million tons of LNG per annum over the next 20 years.

The deal will officially begin in 2029 and marks Venture Global Inc.’s (NYSE:VG) third long-term contract with a Japanese firm.

Earlier this week, the company also secured a separate 20-year agreement with Spain-based Naturgy for an LNG supply deal beginning in 2030. The agreement represents its first long-term deal with a Spanish firm since its first contract in 2018.

According to Venture Global Inc. (NYSE:VG) CEO Mike Sabel, the deals reflect the continued confidence of its customers in the company and the robust demand for LNG globally.

“Venture Global remains committed to meeting that demand with flexible, fast, affordable, and dependable long-term supply,” he added.

With the two new agreements, the company’s long-term value contracts now stand at a total of 6.75 million tons per annum.

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