Venture Global Lands Major LNG Deal with China Gas
Venture Global Inc., a leading LNG producer in the US, has signed a significant sales and purchase agreement with China Gas Holdings Limited. The deal will supply 0.5 million tonnes per annum of liquefied natural gas to China for 20 years, starting from 2030. This long-term commitment brings the total long-term offtake between the two companies to 2.5 million tonnes per annum under 20-year agreements across Venture Global's portfolio.
Venture Global CEO Mike Sabel expressed his excitement about expanding their LNG partnership with China Gas, a leading natural gas operator in China, saying, 'Venture Global is pleased to expand our LNG partnership with China Gas, supplying the country's growing energy needs with reliable, low-cost American LNG from across our Louisiana projects.'
China Gas Chairman and President Liu Ming Hui stated that the agreement further strengthens their portfolio and reinforces their commitment to establishing an international energy trading platform. Venture Global has over 100 million tonnes per annum of capacity in production, construction, or development.