Venture Global has finalised a 20-year sales and purchase agreement (SPA) with Petronas LNG, a subsidiary of Malaysia's state-owned oil and gas company Petronas.

Petronas will acquire one million tonnes per annum (mtpa) of liquefied natural gas (LNG) from Venture Global's CP2 LNG export facility in Louisiana, US, under the agreement.

Last month, Venture Global began full mobilisation and initiated site work at the CP2 LNG facility, following the receipt of final approval from the US Federal Energy Regulatory Commission (FERC).

CP2 LNG is Venture Global’s third facility following Calcasieu Pass and Plaquemines LNG.

The new SPA builds on an existing contract for the 1mtpa supply of LNG from Venture Global's Plaquemines LNG to Petronas.

With this latest agreement, Petronas joins a list of customers from Europe, Asia, and other regions, contributing to the strategic importance of the CP2 LNG project.

Venture Global has sold approximately 10.75mtpa out of the 14.4mtpa nameplate capacity for CP2 Phase One.

Venture Global operates across the LNG supply chain, including LNG production, natural gas transport, shipping, and regasification.

The company's first facility, Calcasieu Pass, began producing LNG in January 2022 and reached commercial operations by April 2025.

Its second facility, Plaquemines LNG, initiated LNG production in December 2024. Currently, Venture Global is constructing and developing more than 100mtpa of nameplate production capacity to deliver clean and affordable energy worldwide.

In addition to its LNG facilities, Venture Global is also focusing on carbon capture and sequestration projects at each site.

Last month, Venture Global withdrew its application to build the Delta LNG export facility in Louisiana, opting instead to concentrate on the Plaquemines expansion project.