NYMEX Nat Gas August futures settle at $3.3250/MMBTU

NYMEX Nat Gas August futures settle at $3.3250/MMBTU

July 2, 2025 — Venture Global, a U.S. natural gas company, has signed a significant deal with Eni, one of Europe's largest energy companies. The agreement involves the sale of 2 million metric tons of liquefied natural gas (LNG) per year for a period of 20 years [1]. This deal comes at a time when President Donald Trump is pushing Europe to increase its imports from the United States to avoid potential tariffs.

Venture Global CEO Mike Sabel expressed his enthusiasm for the partnership, stating, "We are honored that Eni, a leading innovator and global gas player, has chosen Venture Global as their first American LNG supplier. Italy is an important ally and trading partner to the United States, and we are grateful for the trust of Eni as our newest customer. This deal marks a significant milestone for the company and is further recognition of our growing global energy leadership and strong record of execution" [1].

The deal is Eni's first long-term agreement with a U.S. LNG producer, according to a press release. To date, about 13.5 million tons per annum of CP2 LNG Phase One has been sold, raising the total contracted capacity for all of Venture Global's projects to 43.5 MTPA. Venture Global has already supplied Italy with nearly 40 cargoes of U.S. LNG from its Calcasieu Pass and Plaquemines LNG facilities in Louisiana [1].

The latest development comes amidst a backdrop of fluctuating natural gas prices. On July 2, 2025, NYMEX natural gas futures for August settled at $3.3250 per million British thermal units (MMBTU). This price reflects the ongoing geopolitical tensions and the increasing demand for LNG from Europe and other regions.

The deal between Venture Global and Eni is expected to have a positive impact on both companies, as well as the broader natural gas market. It underscores the growing importance of LNG in global energy dynamics and the strategic significance of the U.S. as a major supplier.

References:
[1] https://www.upi.com/Top_News/US/2025/07/16/eni-venture-global-natural-gas-deal/2891752676049/