Venture Global announced a 20‑year sales and purchase agreement with Spain’s Naturgy for 1 million tonnes per annum of LNG beginning in 2030. The contract, signed on November 10, 2025, locks in a long‑term revenue stream that aligns with the company’s expansion of its Calcasieu Pass, Plaquemines, and CP2 LNG projects.
The deal is expected to add roughly $X million in annual revenue, representing a Y% increase in Venture Global’s projected 2026 revenue mix. The 1 MTPA commitment provides a predictable cash flow that supports the company’s capital allocation strategy and positions it to meet growing European demand following the EU’s shift away from Russian gas.
Venture Global’s current LNG export capacity sits at 1.5 million tonnes per annum, with the CP2 project slated to add an additional 0.5 million tonnes by 2028. The Naturgy agreement dovetails with this timeline, ensuring that the company can meet the new contract’s volume requirements without compromising its existing pipeline.
Naturgy’s decision to secure a 20‑year supply reflects its broader strategy to diversify its energy mix and enhance supply security amid geopolitical uncertainties. By locking in U.S. LNG, Naturgy gains access to a reliable source that can help it meet EU renewable energy targets and reduce exposure to Russian gas.
Mike Sabel, Venture Global’s CEO, said the agreement “will positively impact the U.S. balance of trade with Spain and enhance energy security across the region.” He added that the company’s “unmatched speed and execution” have earned it a reputation as a trusted supplier in the global market.
The announcement coincided with Venture Global’s Q3 2025 earnings release, which reported a 260% year‑over‑year revenue increase to $3.3 billion but an EPS miss. Investors responded favorably to the earnings, citing the strong revenue growth and the strategic nature of the Naturgy deal as key drivers of confidence in the company’s long‑term prospects.
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