Venture Global (NYSE: VG) has signed a 20-year Sales and Purchase Agreement (SPA) with Japan’s Mitsui & Co., Ltd. for the supply of 1.0 million tonnes per annum (MTPA) of liquefied natural gas beginning in 2029, marking the U.S. company’s third long-term LNG contract with a Japanese counterpart this year.
Under the newly signed SPA, Venture Global will deliver 1.0 MTPA of LNG to Mitsui for two decades, further cementing Japan’s access to U.S. LNG as it seeks to bolster its energy security and diversify supply sources. The deal brings Venture Global’s total long-term LNG commitments in 2025 to 6.75 MTPA.
The agreement underscores Japan’s ongoing strategy to secure stable LNG imports amid fluctuating global gas markets and energy transitions away from Russian supply. For Venture Global, the Mitsui partnership extends its growing footprint in Asia following prior contracts with Japanese buyers and adds to its expanding LNG portfolio anchored by the Calcasieu Pass and Plaquemines facilities in Louisiana. Both projects are part of Venture Global’s push to position itself among the world’s leading low-cost U.S. LNG producers, with over 100 MTPA of capacity either in operation, construction, or development.
The deal also reflects Japan’s deepening engagement with U.S. energy firms as it balances decarbonization ambitions with the need for reliable fossil-based energy sources. Mitsui, already active across the LNG value chain, has maintained long-standing relationships with U.S. producers and continues to invest in projects that support its diversified global energy supply network.
Venture Global CEO Mike Sabel emphasized that the agreement will “strengthen energy security, enhance the balance of trade, and deepen the long-standing ties between our nations,” highlighting both economic and diplomatic dimensions of the partnership.
The company’s integration strategy—from natural gas supply through shipping and regasification—has made it a major player in the Gulf Coast LNG export boom. It also continues to invest in carbon capture and sequestration at all of its LNG facilities, aligning with broader decarbonization trends among U.S. exporters.
By Charles Kennedy for Oilprice.com
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