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Venture Global, Inc. (NYSE:VG) shares rose Wednesday after the company penned a long-term LNG Sales and Purchase Agreement with Japan’s Mitsui & Co., Ltd. (OTC:MITSY) (OTC:MITSF).
As per the deal, Mitsui will buy 1.0 MTPA of LNG from Venture Global over 20 years, beginning in 2029.
With this deal, Venture Global CEO Mike Sabel plans to expand the supply of U.S. LNG to Japan and global markets.
Also Read: Chevron Seeks Voice In Venture Global’s LNG Extension Request, Tensions Escalate
This marks Venture Global’s third long-term contract with a Japanese company, bringing its total long-term commitments in 2025 to 6.75 MTPA.
Sabel added, “This collaboration between our two companies will strengthen energy security, enhance the balance of trade, and deepen the long-standing ties between our nations. This agreement builds upon our existing long-term relationships with Japanese companies, and we are deeply grateful for their continued trust in Venture Global.”
This week, Venture Global penned a 20-year Sales and Purchase Agreement (SPA) with Naturgy for 1 MTPA of LNG starting in 2030.
Last week, Venture Global inked a 20-year SPA with Greece’s ATLANTIC – SEE LNG TRADE S.A. for at least 0.5 MTPA of U.S. LNG beginning in 2030, with an option to increase the volume.
This week, Venture Global reported third-quarter fiscal 2025 revenue of $3.33 billion, beating the consensus of $3.30 billion, while EPS of 16 cents missed the street view of 23 cents.
Price Action: VG shares were trading higher by 3.98% to $7.830 premarket at last check Wednesday.
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