Venture Global LNG Inc. has netted another sales and purchase agreement (SPA) for its proposed Plaquemines liquefied natural gas (LNG) terminal with a major Asian buyer, pushing the project’s contracted offtake to the 80% mark.

A 1 million metric ton/year (mmty) 20-year contract was announced Wednesday with a subsidiary of Malaysia’s state-owned Petroliam Nasional Berhad, aka Petronas. The contract could lift contracted offtake at the project proposed just south of New Orleans to 16 mmty of a 20 mmty nameplate capacity.

The contract with Petronas LNG Ltd. is a first with the company, which Venture Global CEO Mike Sabel said creates a “significant expansion” of its customer base in Asia. 

“…we particularly look forward to Petronas bringing our competitive,...