Eni, Venture Global Sign 20-year LNG Deal

(RTTNews) - Italian energy company Eni S.P.A. (E) and Venture Global, Inc. (VG), an American producer of liquefied natural gas (LNG) Wednesday said they have signed an agreement to purchase 2 million tonnes per annum of LNG from Venture Global's CP2 LNG.

This 20-year deal is Eni's first long-term agreement with a U.S. LNG producer.

To date, Venture Global has delivered approximately 40 cargoes of U.S. LNG to Italy from its Calcasieu Pass and Plaquemines LNG facilities.

"We are honored that Eni, a leading innovator and global gas player, has chosen Venture Global as their first American LNG supplier. Italy is an important ally and trading partner to the United States, and we are grateful for the trust of Eni as our newest customer. This deal marks a significant milestone for the company and is further recognition of our growing global energy leadership and strong record of execution," said Mike Sabel, CEO of Venture Global.