Thursday, 2 July 2026

Venture Global has enlarged its long-term LNG supply contract with Greece. The company says the deal is Greece's first long-term LNG supply agreement with a U.S. exporter.

The supply arrangement builds on a capacity slot the company took at Greece's Alexandroupolis LNG receiving terminal. Venture Global on September 17, 2024 disclosed a deal covering 1 MMtpa of regasification capacity at the terminal, a node on the Vertical Corridor.

Alongside the Greek offtake, Venture Global closed a USD 2.25 billion sale of debt instruments. The company said the sale split into USD 1.125 billion of senior secured notes due 2034 carrying 6.375% and USD 1.125 billion of senior secured notes due 2036 carrying 6.625%.

The issuance sits against a stack of near-term obligations. At the close of the first quarter, current liabilities stood at USD 3.71 billion, which included USD 126 million in the current portion of long-term debt.

Debt activity has run across the group's project entities. Earlier this year, the subsidiary running the Calcasieu Pass LNG project in Cameron Parish, Louisiana signed a USD 1.75 billion credit facility.

JERA received its first cargo of liquefied natural gas (LNG) from the Barossa Gas Project in Australia's Northern Territory. The carrier Sohshu Maru delivered the shipment to JERA's Futtsu LNG terminal on June 12.

JERA takes its supply through subsidiary JERA Australia Pty Ltd and will lift roughly 425,000 tonnes of LNG a year, matching its equity share in the Barossa field. The company holds a 12.5% stake in the project, which developed Barossa to feed Darwin LNG. It also owns a 6.13% stake in the Darwin liquefaction plant.

Darwin LNG carries a declared capacity of 3.7 million metric tons per annum and started producing in 2006, according to Rigzone. The plant lost its feedgas after Timor-Leste's Bayu-Undan field, its earlier supply source, stopped exporting in late 2023 as the field depleted, according to operator Santos Ltd. Barossa now supplies the feedgas that keeps Darwin LNG running.

Investment in Barossa, described as the Darwin LNG life extension project, reached USD 3.95 billion, according to a Santos stock filing dated June 18, 2025.

Western Australia hosts a second large development, the Scarborough project, which covers the Scarborough field off Karratha, a second Pluto LNG processing train rated at 5 MMtpa, and modifications to Pluto Train 1, according to operator Woodside Energy Group Ltd.

Chevron will take a 70 percent operating stake in Block 10 off Greece's Mediterranean coast under an agreement with Helleniq Energy Holdings SA. Helleniq Energy said in a statement it keeps a 30 percent interest in the block.

The transaction brings the two companies' offshore holdings in Greece to five concessions.

Block 10 has cleared both 2D and 3D seismic studies and now sits in its second exploration phase, which Chevron said supports evaluation of possible drilling targets.

The two firms signed lease agreements on February 16 to explore four blocks in the Greek Mediterranean. Those four areas span roughly 47,000 square kilometers, according to Helleniq Energy.

Andrew Deighan, Chevron's director for exploration in the Middle East and North Africa, said the company aims to expand its exploration portfolio in the Mediterranean.

VAALCO Energy has brought its Ebouri-5H development well into production offshore Gabon at an initial flow rate above 8,000 bbl/d of oil with a very low water cut, according to Offshore magazine.

The well delivered a lateral section of 300 m of net pay in Gamba sands, Offshore reported. VAALCO holds a 58.8% working interest in and operates the Etame Marin Block offshore Gabon.

The latest startup follows another development well on the block. VAALCO reported in late April that the Etame 14H well is now in production at an initial flow rate of about 4,850 bbl/d of oil, according to Offshore.

Produced gas from the new wells will support field operations as the partners seek to offset the cost of higher priced diesel currently delivered to the field by vessel, Offshore reported.