China Gas signss 20-year LNG deal with US-based Venture Global
China Gas Holdings and Venture Global announced a 20-year agreement for China Gas Holdings to purchase 0.5 million metric tons of U.S. LNG from Venture Global. The contract will begin in 2030.
The agreement comes before Chinese President Xi Jinping is expected to visit Washington in the next few weeks. China stopped importing U.S. Liquefied Natural Gas in March 2025, after Beijing's tariffs against U.S. energy goods took effect?in mid-February.
Liu Ming Hui said, "It strengthens our portfolio, and reinforces our commitment towards establishing an international energy trading platform" at the Gastech Conference in Bangkok. He was referring to Venture 'Global.
Venture Global announced in a press release that the sales and purchase agreement brings Venture Global’s long-term commitments to?supply with?China Gas?to 2.5 million tons per year.
China was a major importer of U.S. Liquefied Natural Gas (LNG) and imported up to $6.2 billion in cargoes by 2021. However, after tariffs were imposed on cargoes from the U.S., Chinese importers began diverting cargoes sourced elsewhere.
China, the world's biggest LNG importer, has seen its appetite for super-chilled gas wane. It now prefers piped natural gas and renewable energies, and LNG is a smaller part of the fuel mix.
China has retained tariffs on U.S. Energy Products, including a 15 % levy for LNG, despite suspending a 24 % additional tariff on U.S. Goods for a?year.
In 2025, total LNG imports dropped to a low of 68.43 millions tons.
(source: Reuters)
