US liquefied natural gas (LNG) developer Venture Global will supply Malaysia’s Petronas with 1 million tonnes per year (t/y) of LNG for a 20-year term after the pair signed a new deal. Significantly, Asian LNG buyers, such as Petronas, are increasingly locking in new long-term supplies as more European buyers enter the race for LNG.
The LNG will be supplied from Venture Global’s Plaquemines facility and the latest deal means 16 million t/y of the 20 million t/y nameplate capacity of the export complex has been contracted, the company said Wednesday.
