Venture Global (NYSE:VG) said Wednesday it reached an agreement with Eni (E) for the purchase of 2M metric tons/year of liquefied natural gas for 2 years from the CP2 LNG project, in a deal that marks Eni’s first ever long-term agreement with an American LNG producer.

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.

Italian energy company 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 2m tonnes per year (mpta) from its third project in the US, CP2 LNG.