China Snaps Up US LNG Despite Ongoing Trade Tensions

China Gas Holdings has signed a new 20-year contract to import liquefied natural gas (LNG) from Venture Global, despite ongoing trade tensions between China and the US. The agreement, announced on the eve of Chinese President Xi Jinping's expected visit to Washington, will see China Gas purchase 500,000 metric tons of LNG annually from Venture Global starting in 2030.

The new contract adds to China Gas's existing commitments with Venture Global, which now stand at 2.5 million metric tons per year. This represents a 25% increase on the 2 million metric tons per year contracted in 2023.

The deal comes as Chinese LNG imports have fallen to a three-year low of 68.43 million metric tons in 2025, with major forecasters reducing their expectations for Chinese LNG consumption in the early 2030s by up to 22 million tons.