Under the SPA, Tokyo Gas will buy 1 million tonnes per annum (mtpa) of LNG from Venture Global for 20 years, according to a statement by Venture Global.
The LNG supplies are scheduled to start in 2030.
Venture Global did not provide further details regarding the SPA.
7.75 mtpa
This is Venture Global’s fourth long-term contract with a Japanese company.
Including this agreement, Venture Global has signed 7.75 mtpa of long-term contracts to date in 2025.
The company recently announced 20-year deals with Japanese trading house Mitsui & Co, Spanish utility Naturgy, and a newly formed joint venture of Greek companies Aktor and DEPA.
“With nearly 8 mtpa of new long-term commitments signed this year, Venture Global is pleased to build on our commercial momentum through this new partnership with Tokyo Gas,” said Venture Global CEO Mike Sabel.
“Tokyo Gas is a pioneer in the LNG industry and leading provider of natural gas to Japan, and we look forward to working with them as we grow our position as a top LNG supplier to Japan,” he said.
Sabel said during Venture Global’s recent earnings call that these deals with Naturgy and the Greek JV are for volumes from the second phase of Venture Global’s CP2 LNG project in Louisiana.
He also said during the call that Venture Global aims to sign additional sales and purchase agreements for volumes from the second CP2 phase.
The CP2 LNG plant site is situated adjacent to Venture Global’s existing Calcasieu Pass liquefaction plant in Louisiana, which commenced commercial operations in April.
Venture Global previously stated that the peak run-rate production level of Phase 1 is expected to be approximately 20 mtpa, while Phase 2 has a nameplate capacity of 5.6 mtpa with an expected peak production capacity of about 8 mtpa.
According to Sabel, the total CP2 capacity is also expected to be increased from 28 mtpa to 30 mtpa.
Plaquemines LNG
In addition, Venture Global now plans to more than double liquefaction capacity at its Plaquemines LNG terminal in Louisiana due to optimization of liquefaction trains and “strong” market demand.
This bolt-on expansion will be built incrementally in three phases and consist of 32 modular liquefaction trains, adding in total over 30 mtpa in peak production capacity, according to Venture Global.
Venture Global said this would bring the total peak production capacity across the entire Plaquemines complex to over 58 mtpa.
