Venture Global (NYSE: VG) locks three LNG export deals with Mitsui and others in strategic global gas push

Venture Global, Inc. (NYSE: VG) has announced the execution of a 20-year liquefied natural gas (LNG) Sales and Purchase Agreement with Japanese conglomerate Mitsui & Co., Ltd., under which Mitsui will purchase 1.0 million tonnes per annum (MTPA) of LNG beginning in 2029. The announcement, made on November 11, 2025, underscores the growing demand for long-term U.S. LNG contracts as countries across Asia and Europe look to bolster energy security and diversify away from pipeline-dependent sources.

The Mitsui agreement marks Venture Global’s third long-term LNG contract with a Japanese buyer and pushes the company’s total long-term contract volume for the year to 6.75 MTPA. It also reinforces Japan’s strategy to secure stable and diversified energy sources amid ongoing global supply volatility. The deal further strengthens ties between the U.S. and Japan in the energy sector, with analysts noting that long-term LNG procurement remains a central pillar of Japan’s decarbonization and energy reliability goals.

Venture Global Chief Executive Officer Mike Sabel stated that the partnership with Mitsui not only deepens bilateral trade but also reflects the trust placed in the American exporter’s delivery capabilities. The agreement adds another layer to Venture Global’s ongoing expansion in the Asia-Pacific region, where buyers are actively seeking long-term hedges against price fluctuations and geopolitical risks in energy procurement.

How does the agreement with Naturgy signal renewed LNG interest from Spanish buyers in long-term U.S. contracts?

The Mitsui agreement comes on the heels of a separate long-term LNG contract with Spanish energy firm Naturgy, also announced in recent weeks. Under the 20-year SPA, Naturgy will purchase 1.0 MTPA of LNG beginning in 2030, making it Spain’s first new long-term American LNG contract since 2018. To date, Venture Global has delivered 35 cargoes to Spain through its Calcasieu Pass and Plaquemines LNG terminals.

Venture Global’s collaboration with Naturgy is its second long-term contract with a Spanish counterpart and forms part of a broader pattern of re-engagement by European buyers with American LNG exporters. The timing is significant, given Europe’s ongoing quest for energy autonomy and its desire to diversify beyond Russian gas, especially in light of recent geopolitical disruptions.

Mike Sabel emphasized the contract’s contribution to enhancing Spain’s and Europe’s energy security. He also pointed to Venture Global’s consistent speed of execution as a key differentiator. Analysts following European LNG flows have observed a rebound in long-term contracting appetite among major utilities, particularly as short-term spot market volatility continues to make long-horizon supply security more attractive to institutional buyers.

What makes the Greece–Atlantic-See LNG agreement geopolitically significant for Central and Eastern Europe?

Rounding out its series of announcements, Venture Global has also inked a 20-year deal with ATLANTIC – SEE LNG TRADE S.A., a newly formed Greek joint venture between AKTOR and DEPA. Under this agreement, Atlantic-See will initially purchase 0.5 MTPA of LNG from Venture Global starting in 2030, with potential to increase volumes.

The Greek partnership was unveiled during the 6th Partnership for Transatlantic Energy Cooperation (PTEC) conference in Athens and represents the first long-term U.S. LNG supply deal signed by a Greek entity. It also builds on Venture Global’s previous investment in Greece’s Alexandroupolis LNG terminal, where the American exporter holds regasification rights accounting for roughly 25 percent of terminal capacity.

The Alexandroupolis terminal, situated on the South-North ‘Vertical Corridor’, is increasingly seen as a strategic entry point for U.S. gas into Central and Eastern Europe. With its importance to regional energy security growing, analysts believe this agreement with Atlantic-See strengthens the infrastructural and diplomatic architecture underpinning American LNG penetration into southeastern European markets.

Venture Global’s CEO referred to the deal as a pivotal milestone for U.S.–Greece energy cooperation and credited high-level support from officials in the Trump administration, including Secretary Burgum and Ambassador Guilfoyle, for catalyzing transatlantic energy trade momentum.

How do Venture Global’s Louisiana projects position it to meet future global LNG demand under these long-term deals?

The tripartite set of agreements also reaffirms Venture Global’s role as a top-tier U.S. LNG exporter with global ambitions. The company currently has over 100 MTPA of export capacity either in production, construction, or advanced development, with its existing and upcoming facilities in Louisiana forming the backbone of this scale-up strategy.

Its first terminal, Calcasieu Pass, has already been commissioned and operational since 2022. The Plaquemines LNG project, located about 20 miles south of New Orleans, is expected to contribute 20 MTPA once fully online. CP2 LNG, another 20 MTPA project under construction in Cameron Parish, is being developed alongside the CP Express pipeline, which will transport gas from Texas into the Louisiana facility. CP3 LNG, a fourth project with a targeted capacity of 30 MTPA, is currently in the planning phase.

The combination of vertically integrated infrastructure, Gulf Coast location advantages, and robust financing has made Venture Global a favorite among long-term buyers seeking reliable U.S. supply. Analysts tracking global LNG trade highlight the company’s rapid project execution and willingness to invest in regional regasification infrastructure, such as in Greece, as critical factors underpinning its current wave of contract wins.

What are investors watching as Venture Global builds long-term LNG market dominance?

Venture Global’s growing roster of international SPAs reflects not only the company’s operational capacity but also its evolving influence in global LNG diplomacy. With multiple new long-term deals signed within a span of months, investor focus has turned toward the company’s project execution timelines, supply chain resilience, and carbon management strategy.

Analysts believe that successful delivery of CP2 and CP3 LNG projects on time and within budget will be key to meeting contractual obligations and maintaining long-term buyer confidence. The integration of carbon capture and sequestration (CCS) across its LNG operations is also drawing interest, particularly from ESG-focused institutional investors looking to support “greener” LNG exports.

As of now, Venture Global has not provided updated financials for Q4 2025, but market participants are closely watching for new capital raises, EPC contract awards, and export volume milestones. The stock (NYSE: VG) has seen moderate gains in recent sessions, aided by these deal announcements and sentiment around long-term cash flow visibility.

What are the key developments in Venture Global’s latest LNG deal spree and why do they matter?

• Venture Global, Inc. (NYSE: VG) signed a 20-year LNG supply agreement with Japan’s Mitsui & Co., Ltd. for 1.0 MTPA beginning in 2029, marking its third Japanese contract in 2025.
• The American LNG exporter also finalized a 20-year deal with Spanish energy firm Naturgy for 1.0 MTPA starting in 2030, reactivating long-term U.S.–Spain LNG trade after a seven-year gap.
• In a landmark first, Greece’s newly formed ATLANTIC – SEE LNG TRADE S.A. signed its first long-term LNG deal with a U.S. supplier, committing to purchase 0.5 MTPA starting in 2030, with expansion potential.
• Venture Global has now secured 6.75 MTPA in long-term LNG contracts in 2025 alone, demonstrating sustained demand from Asia and Europe for stable U.S. LNG supply.
• The three agreements support national energy security objectives for Japan, Spain, and Greece, and reinforce U.S. geopolitical influence in global LNG markets.
• These contracts are anchored by Venture Global’s expanding LNG infrastructure on the U.S. Gulf Coast, including Calcasieu Pass, Plaquemines, CP2 LNG, and CP3 LNG.
• Greece’s deal follows Venture Global’s investment in the Alexandroupolis LNG terminal, which is emerging as a critical entry point for U.S. gas into Central and Eastern Europe.
• Venture Global’s integrated approach, which includes LNG liquefaction, shipping, pipeline development, and planned CCS installations, is helping it win buyer trust globally.
• Institutional sentiment toward Venture Global stock remains positive as investors monitor upcoming project milestones, capital raises, and export volumes.
• Analysts say the company’s ability to execute large-scale projects at speed while supporting geopolitical LNG corridors positions it as a long-term leader in the sector.