The Malaysian oil and gas company Petronas has signed a 20-year Sales and Purchase Agreement (SPA) with the US’ Venture Global LNG, which will supply Petronas with 1 Mt/year of LNG from Venture Global’s proposed CP2 LNG project, located in the US state of Louisiana. This SPA builds upon Venture Global’s existing agreement with Petronas for 1 Mt/year of LNG supply from Plaquemines LNG.
The CP2 LNG project aims to liquefy, store, and export a nameplate liquefaction capacity of 20 Mt/year of LNG, with approximately 28 Mt/year peak capacity possible under optimal conditions. To date, approximately 10.75 Mt/year of the nameplate capacity for the CP2 LNG project has been awarded.
In June 2025, Petronas had signed another 20-year LNG SPA with the US company Commonwealth LNG, under which Petronas will also purchase 1 Mt/year of LNG from Commonwealth’s 9.5 Mt/year facility, currently under development in Louisiana.