Under the SPA, Mitsui will purchase 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 2029.
Venture Global did not provide further details regarding the SPA.
“Venture Global is honored to announce our new partnership with Mitsui, a distinguished leader in the LNG industry, to further increase the flow of U.S. LNG to Japan and the global market,” said Mike Sabel, CEO of Venture Global.
“This collaboration between our two companies will strengthen energy security, enhance the balance of trade, and deepen the long-standing ties between our nations. This agreement builds upon our existing long-term relationships with Japanese companies, and we are deeply grateful for their continued trust in Venture Global,” he said.
6.75 mtpa
Including this agreement, Venture Global has signed 6.75 mtpa of long-term contracts to date in 2025.
The company recently announced 20-year deals with Spanish utility Naturgy and a newly formed joint venture of Greek companies Aktor and DEPA.
Sabel said during Venture Global’s earnings call on Monday that these deals are for volumes from the second phase of its 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.
