Venture Global has entered a 20-year sales and purchase agreement (SPA) with Eni, the Italian energy company's first long-term contract with a US liquefied natural gas (LNG) producer. The agreement entails the purchase of two million tonnes per annum (mtpa) of LNG from Venture Global's CP2 LNG project.

Venture Global will supply 2 million metric tons a year of liquefied natural gas to Italian state-controlled energy group Eni , the two companies said on Wednesday.

Italy’s Eni has signed a major long-term LNG deal that will secure work for vessels over 20 years. New York-listed gas producer Venture Global said it had signed up to sell 2 mpta from its third project in the US, CP2 LNG. The 40m tonnes works out at more than 550 cargoes on a standard LNG carrier.