Wedoany.com Report-Nov. 13, United States liquefied natural gas (LNG) producer Venture Global Inc has announced multiple long-term supply agreements with companies in Greece, Japan, and Spain.

The U.S. LNG producer announced multiple long-term contracts to supply three Greek, Japanese and Spanish companies.

Greek firm Atlantic-See LNG Trade SA, formed by Aktor Group and DEPA Commercial SMSA, committed to at least 0.5 million metric tons per annum (MMtpa) of U.S.-produced LNG for 20 years starting in 2030. Venture Global noted: "Under the SPA [sale and purchase agreement], Atlantic-See has the potential to expand its purchase commitment." The deal marks Greece’s first long-term LNG agreement with a U.S. exporter. The contract was signed during the Partnership for Transatlantic Energy Cooperation summit between Central and Eastern European countries and the U.S.

Separately, Venture Global secured a 20-year contract with Tokyo-based Mitsui & Co Ltd to supply one MMtpa from 2029. CEO Mike Sabel commented: "This collaboration between our two companies will strengthen energy security, enhance the balance of trade and deepen the long-standing ties between our nations. This agreement builds upon our existing long-term relationships with Japanese companies."

Spain’s Naturgy also contracted Venture Global for one MMtpa for 20 years from 2030. Venture Global stated: "The agreement represents Spain’s first long-term contract for American LNG since Venture Global’s first contract in 2018. To date, Venture Global has supplied Spain with 35 cargos from its Calcasieu Pass and Plaquemines facilities." Sabel added: "This contract will positively impact the U.S. balance of trade with Spain and enhance energy security across the region."

Sabel highlighted that the agreements reflect strong global demand and continued customer confidence: "The signing of this agreement, along with the strong commercial momentum we've achieved over the past six months, reflects the continued customer confidence in our company and the robust demand for LNG globally."

In its latest quarterly report, Venture Global reported exporting 100 cargos totaling 372 trillion British thermal units (TBtu) in Q3, up 261 TBtu from the same period last year. Revenue rose 260 percent year-on-year to $3.3 billion, while net profit reached $429 million, compared to a net loss of $347 million in Q3 2024.

The company attributed the profit increase to higher operational income of $1.1 billion, primarily driven by $1.9 billion in higher LNG sales volumes at the Plaquemines Project, partially offset by $645 million lower net LNG sales prices at the Calcasieu Project. Non-cash favorable changes in interest rate swaps added $336 million, while higher interest expenses amounted to $293 million.

Venture Global noted that Consolidated Adjusted EBITDA for Q3 increased $1.2 billion, or 439 percent compared to 2024, mainly due to higher LNG sales volumes at the Plaquemines Project, resulting in a greater total margin for LNG sold.

These agreements position Venture Global as a growing global LNG supplier, expanding its footprint in Europe and Asia, while strengthening the U.S.’s energy export presence and supporting regional energy security and trade balances.