It was announced on Wednesday that Venture Global had reached an agreement to supply two million metric tons of liquefied natural gas (LNG) annually to Eni, the Italian state-controlled energy group. The long-term supply contract was confirmed in coordinated statements from both companies, marking a significant milestone in transatlantic energy cooperation. The deal was described as Eni’s first long-term agreement for LNG sourced from the United States, aligning with commitments made earlier this year by Italy’s leadership to enhance energy trade relations with North America.
According to details shared by the companies, the accord follows a pledge made in April by Italian Prime Minister Giorgia Meloni during discussions with U.S. President Donald Trump. At the time, it had been indicated by Meloni that Italy intended to increase its imports of U.S.-produced LNG as a gesture of goodwill to improve bilateral trade relations. This broader policy initiative has been framed as part of Italy’s strategy to both deepen its commercial ties with Washington and diversify its energy supplies amid ongoing geopolitical tensions.
Venture Global noted that this latest agreement comes on the heels of another recent deal with a European offtaker. In June, the U.S.-based LNG producer revealed that it had signed an agreement to deliver an additional 750,000 metric tons per year of LNG to Germany’s SEFE Energy GmbH. Both transactions have been viewed as indicative of European buyers’ growing appetite for U.S. natural gas, as the continent continues to reduce reliance on Russian energy sources in response to the ongoing conflict in Ukraine.
While the European Union remains engaged in sensitive negotiations with the U.S. administration regarding the imposition of 30% tariffs on European exports to North America, Eni refrained from making any comment about the state of those discussions. An Eni spokesperson, when asked for clarification by Reuters, declined to address the trade talks directly but characterized the LNG agreement as highly advantageous for both parties. It was also emphasized that Venture Global would now be regarded as an important long-term supplier for Eni’s global operations.
Eni disclosed that the contracted gas volumes would be sourced from Venture Global’s Calcasieu Pass 2 project, which is currently under development in the U.S. state of Louisiana. Deliveries under the agreement are expected to commence by the end of the decade, aligning with the projected timeline for the completion of the facility. A portion of the LNG secured through this contract is expected to contribute specifically to Europe’s ongoing efforts to diversify its energy mix, a strategic imperative given the reduced imports of Russian gas.
The Italian energy giant also indicated that the agreement would support its corporate objective of expanding its LNG portfolio to approximately 20 million metric tons per year of contracted volumes by 2030. This target forms part of Eni’s broader plan to enhance its global trading business, which has been prioritized as a growth engine in the company’s long-term strategy. The company further noted that the deal with Venture Global complements existing LNG imports already secured by other Italian utilities, including Edison, which is also known to source LNG from the United States.
Industry analysts have observed that the deal represents another step in the deepening energy cooperation between Europe and the United States, which has accelerated in the wake of Russia’s invasion of Ukraine. On Friday, the European Union approved its 18th package of sanctions against Moscow in response to the ongoing war, further underscoring the urgency with which European governments have sought alternative energy suppliers. LNG imports from the U.S. have been identified as a key element in mitigating the impact of lost Russian supplies while maintaining the security of Europe’s energy systems.
Market observers have also pointed out that Venture Global’s growing list of European customers highlights the increasing importance of U.S. LNG exports in global energy markets. The company has rapidly expanded its presence, leveraging its position as a competitive supplier of natural gas to meet the rising demand from European buyers seeking to hedge against geopolitical risk.
Eni, in its statement, expressed confidence that the agreement with Venture Global would not only bolster its supply security but also strengthen its role as a leading player in the international LNG trade. The company reiterated its commitment to sustainable growth and emphasized that the newly contracted volumes would help achieve its medium- and long-term strategic goals.
The announcement came amid ongoing diplomatic and trade negotiations between Brussels and Washington. The two sides remain engaged in discussions over trade imbalances and the threat of new tariffs, even as they cooperate closely on energy and security matters. The outcome of these talks is being closely monitored by European energy companies, which are keen to avoid additional costs on their exports while deepening their access to American LNG.
In summary, the landmark agreement between Venture Global and Eni reflects a broader realignment of European energy policy and trade strategy in response to global challenges. By securing U.S. LNG supplies, Eni has demonstrated its commitment to diversifying Italy’s energy mix and strengthening ties with a key transatlantic partner. At the same time, the deal serves as another signal of the growing role of U.S. LNG in Europe’s energy future, as both regions navigate a complex geopolitical and economic landscape.
