Venture Global and China Gas Enter New Long-Term LNG Agreement
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Venture Global and China Gas has executed a new sales and purchase agreement (SPA) for the purchase of 0.5 million tonnes per annum (MTPA) of U.S. liquefied natural gas (LNG) from Venture Global for twenty years starting in 2030.
This SPA brings Venture Global’s current long-term offtake with China Gas, to 2.5 MTPA under 20-year SPAs supplied across Venture Global’s portfolio.
“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.
“We are pleased to deepen our long-standing partnership with Venture Global through this new agreement. It 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,” said Liu Ming Hui, chairman and president of China Gas.
Venture Global is an American producer and exporter of low-cost U.S. liquefied natural gas (LNG) with over 100 MTPA of capacity in production, construction, or development. Venture Global began producing LNG from its first facility in 2022 and is now one of the largest LNG exporters in the United States. The company’s vertically integrated business includes assets across the LNG supply chain including LNG production, natural gas transport, shipping and regasification. The company’s first three projects, Calcasieu Pass, Plaquemines LNG, and CP2 LNG, are located in Louisiana along the Gulf of America. Venture Global is developing Carbon Capture and Sequestration projects at each of its LNG facilities.
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