Venture Global signs 20-year LNG deal with China Gas

Venture Global, Inc. (NYSE: VG) and China Gas Holdings Limited have signed a new Sales and Purchase Agreement for 0.5 million tonnes per annum (MTPA) of U.S. liquefied natural gas, according to a press release from the companies.

The 20-year agreement, set to begin in 2030, brings Venture Global's total long-term offtake contracted to China Gas to 2.5 MTPA across multiple 20-year agreements supplied from Venture Global's portfolio of Louisiana-based projects.

"Venture Global is pleased to expand our LNG partnership with China Gas, a leading natural gas operator in China, supplying the country's growing energy needs with reliable, low-cost American LNG from across our Louisiana projects," said Venture Global CEO Mike Sabel.

China Gas Chairman and President Liu Ming Hui said the agreement "further strengthens our portfolio and reinforces our commitment to establishing an international energy trading platform that connects high-quality global resources with rising energy demand worldwide."

Venture Global operates LNG facilities in Louisiana, including Calcasieu Pass, Plaquemines LNG, and CP2 LNG, and states it has over 100 MTPA of capacity in production, construction, or development. China Gas is one of China's largest integrated energy suppliers, operating city and township gas pipelines and related infrastructure across residential, industrial, and commercial sectors.

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