Eni S.p.A. has entered into a 20‑year sales and purchase agreement with Venture Global, Inc., according to the company's release.
Under the contract, Eni will acquire 2 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from Phase 1 of the CP2 LNG project in Cameron Parish, Louisiana.
Offtake is set to commence by the end of the decade.
Phase 1 is part of a broader facility featuring a peak production capacity of 28 MTPA.
This marks Eni’s inaugural long‑term LNG supply agreement with a U.S. producer and aligns with its strategy to diversify its global LNG portfolio and bolster flexibility.
The volumes will contribute to the diversification of Europe’s gas supplies.
Venture Global’s delivery track record is expected to assist Eni in reaching its target of approximately 20 MTPA of contracted LNG volumes by 2030, while expanding its trading operations and addressing customer needs across key markets worldwide.
Prior to the July 16, 2025 contract, Venture Global had already sold approximately 13.5 MTPA from CP2 Phase 1 and accumulated a total of 43.5 MTPA in contracted sales across its portfolio. Meanwhile, Eni had previously imported U.S. LNG cargoes from Venture Global’s Calcasieu Pass and Plaquemines terminals—about 40 shipments to date—and this agreement represents the first long‑term arrangement with a U.S. LNG producer.
Eni S.p.A. is an Italian public joint‑stock company (Società per azioni), established in 1953 by the Italian government and listed on the Milan exchange. It operates globally in the oil and gas sector, with FY 2024 revenues of €88.8 billion and around 32,500 employees.
Venture Global, Inc. is a U.S.-based liquefied natural gas development company, publicly traded on the NYSE (VG). It is building several Gulf Coast export terminals, including Calcasieu Pass, Plaquemines, and CP2.