Venture Global LNG Inc. has signed an agreement to supply a subsidiary of China National Offshore Oil Corp. (CNOOC), China’s largest liquefied natural gas (LNG) importer, with 3.5 million metric tons/year (mmty) of the super-chilled fuel for a 20-year term. 

Venture Global would supply CNOOC with 2 mmty of LNG on a free-on-board basis from its planned Plaquemines export terminal. It would supply another 1.5 mmty from the Calcasieu Pass facility. Both projects are in Louisiana. The 10 mmty Calcasieu terminal is being commissioned and early construction has started on the 20 mmty Plaquemines project, which has not yet been sanctioned. 

The deals mark the first time state-owned CNOOC has signed a sales and purchase agreement with a U.S. LNG exporter. It also caps a busy year for...