Venture Global Signs 20-Year, 1.5 MMtpy LNG Deal with Korea’s Hanwha

Venture Global has signed a 20-year sales and purchase agreement with Korea’s Hanwha Aerospace for 1.5 MMtpy of U.S. LNG beginning in 2030, expanding its long-term contracted portfolio to more than 46 MMtpy.

(P&GJ) — Venture Global and Hanwha Aerospace have signed a 20-year sales and purchase agreement (SPA) for 1.5 million tonnes per annum (MMtpy) of U.S. liquefied natural gas, with deliveries beginning in 2030.

The agreement marks Venture Global’s first long-term LNG supply contract with a Korean entity and increases the company’s total long-term contracted portfolio to more than 46 MMtpy.

“Venture Global is thrilled to announce our first long-term supply deal in Korea through a new partnership with Hanwha Aerospace which marks another important step in expanding reliable, long-term LNG supply to our partners in Asia,” said Mike Sabel, CEO of Venture Global. “We are proud to support growing global energy needs with low-cost, secure American LNG while strengthening the strategic energy partnership between the United States and South Korea to support long-term industrial and economic growth.”

Venture Global is currently producing LNG from its Calcasieu Pass and Plaquemines LNG facilities in Louisiana and is developing additional capacity at its CP2 project. The company reports more than 100 MMtpy of capacity in production, construction or development across its portfolio.

Hanwha Aerospace, part of the Hanwha Group, has been expanding its role in the LNG value chain alongside other group affiliates as part of broader energy security initiatives.