(Reuters) – Venture Global LNG announced Tuesday that it will supply 2,000,000 tonnes per year of liquefied LNG to the Asia-Pacific unit. Exxon Mobil Corp (NYSE :

Since the Russian invasion in Ukraine, global demand has risen for U.S. LNG. This has greatly tightened an already over-supplied market.

Exxon will buy one million tonnes annually of LNG from Venture Global’s Plaquemines and CP2 facilities each year under the agreement. Both operations are located in Louisiana.

The second supply agreement is for CP2, and construction is anticipated to begin in 2023.