China Gas Secures Long-Term LNG Deal Amid Earnings Decline

China Gas Holdings Limited saw its stock price rise slightly to HKD 5.40 on the Hong Kong Stock Exchange on October 6, 2026, marking a 0.56 percent increase from the prior session. The company announced a significant 20-year liquefied natural gas (LNG) supply agreement with Venture Global, set to begin in 2030. This deal will add 0.5 million metric tons of LNG per year to China Gas's contracted volumes, bringing its total long-term supply commitments with Venture Global to 2.5 million metric tons annually.

The agreement was reported by Reuters on September 14, 2026, and covers supply from Venture Global's U.S. portfolio. While this contract enhances China Gas's supply security, it will not impact deliveries until 2030. The deal comes at a time when China Gas is facing a decline in its fiscal 2026 earnings, with net sales dropping to HKD 73.604 billion from HKD 79.258 billion in fiscal 2025, and net income falling 16.39 percent to HKD 2.719 billion.

Additional factors influencing the commercial value of the LNG deliveries include China's 15 percent tariff on U.S. energy products and a decrease in Chinese LNG imports to 68.43 million metric tons in 2025. Despite these challenges, analysts maintain an OUTPERFORM rating for China Gas Holdings, with an average target price of HKD 6.268, according to MarketScreener's consensus based on 15 analysts.

As of October 6, 2026, China Gas's stock is trading below the consensus target, with a market capitalization of HKD 29.4 billion. The stock's 52-week range is HKD 5.17 to HKD 8.85, placing the latest quote HKD 3.45 below the yearly high and HKD 0.23 above the yearly low. The company's long-term LNG expansion strategy offers a supply platform, but the recent earnings decline and tariff exposure remain key factors for investors to consider.