Venture Global signs LNG supply deal with China Gas

Venture Global Inc., a U.S. liquefied natural gas (LNG) producer, and China Gas Holdings Limited have signed a 20-year sales and purchase agreement for 0.5 million tonnes per annum of American LNG, according to a press release. The deal, set to commence in 2030, will see China Gas procure LNG from Venture Global's Louisiana facilities. This agreement increases the total LNG off-take between the two companies to 2.5 million tonnes annually, as part of Venture Global's portfolio of 20-year contracts.

Venture Global CEO Mike Sabel expressed satisfaction with the partnership, stating that it will supply China's burgeoning energy demands with dependable, affordable American LNG sourced from their Louisiana projects. Liu Ming Hui, Chairman and President of China Gas, highlighted that the agreement strengthens China Gas's portfolio and underscores the company's dedication to creating a global energy trading platform that links high-quality resources with escalating energy demand worldwide.

Venture Global currently operates LNG production facilities in Louisiana, starting production from its first facility in 2022. The company boasts over 100 million tonnes per annum of production capacity, both in operation and under development. China Gas Holdings Limited is a natural gas supplier and service provider in China, involved in the construction and operation of gas pipelines, terminals, and storage facilities, catering to residential, industrial, and commercial customers.