A long term supply contract will bring shipments of liquefied natural gas to ConocoPhillips beginning in 2030. The agreement with Venture Global provides 1 mtpa of LNG through 2050, sourced from the seller's Louisiana projects, including Calcasieu Pass, Plaquemines, and CP2. While the volume is small for ConocoPhillips, Venture Global claims its total capacity across production and development exceeds 100 mtpa.

The purchase hedges the energy company's exposure to its investments in Qatar, including stakes in Qatari trains and the North Field expansion, by securing gas that avoids the Strait of Hormuz. Venture Global has faced legal disputes over its delivery record, with Shell and BP previously initiating arbitration regarding delayed cargoes from the Calcasieu Pass facility.