China Gas signs 20-year LNG import deal with US-based Venture Global
VG•China Gas, Venture Global sign 20-year supply deal
BANGKOK, Sept 14 (Reuters) - China Gas Holdings 0384.HK will buy 0.5 million metric tons of U.S. liquefied natural gas (LNG) from Venture Global VG.N for twenty years starting in 2030, the two companies said on Monday.
The deal comes ahead of Chinese President Xi Jinping's expected trip to Washington this month. China halted imports of U.S. LNG in March 2025 after Beijing's tariffs on U.S. energy products took effect in mid-February.
China LNG demand has weakened amid tariffs and energy shift
China was a major buyer of U.S. LNG and imported as much as $6.2 billion worth of cargoes in 2021, but after tariffs imposed by Beijing raised costs, Chinese importers started diverting U.S.-sourced cargoes to buyers elsewhere.
At the same time, appetite for the super-chilled fuel in the world's largest LNG importer has flagged, with China prioritising piped gas and renewable energy and relegating LNG to a shrinking share of its fuel mix.
China has retained tariffs on U.S. energy products, including a 15% levy on LNG despite suspending a 24% additional tariff on U.S. goods for one year.
Total LNG imports fell to a three-year low of 68.43 million tons in 2025.
China Gas says deal strengthens international energy trading plans
"It further strengthens our portfolio and reinforces our commitment to establishing an international energy trading platform," Liu Ming Hui, chairman and president of China Gas, said at the Gastech conference in Bangkok, referring to the agreement with Venture Global.
The sales and purchase deal brings Venture Global's long-term supply commitments with China Gas to 2.5 million tons a year, Venture Global said in a statement.
