China Gas Signs Long-Term LNG Deal with Venture Global Amid Ongoing Tariffs

China Gas Holdings has signed a 20-year liquefied natural gas (LNG) import deal with US-based Venture Global, marking a significant turn in the LNG market. The agreement will see China Gas buy 0.5 million metric tons of US LNG per year starting from 2030.

The deal comes ahead of Chinese President Xi Jinping's expected visit to Washington this month and follows a halt in US LNG imports by China in March 2025 due to Beijing's tariffs on US energy products. Despite the tariffs, Venture Global has secured long-term supply commitments with China Gas totaling 2.5 million tons per year.

China was once one of the largest buyers of US LNG, importing up to $6.2 billion worth of cargoes in 2021. However, after Beijing's tariffs took effect, Chinese importers started diverting US-sourced LNG to other buyers, and appetite for the fuel has waned due to increased focus on piped gas and renewable energy.

China retains a 15% tariff on US energy products, including LNG, despite suspending an additional 24% tariff on US goods for one year. Total LNG imports fell to a three-year low of 68.43 million tons in 2025.