Venture Global, China Gas sign two 20-year LNG deals
(WO) – Venture Global LNG and China Gas Holdings Limited, a leading natural gas operator in China, have signed two 20-year LNG Sales and Purchase Agreements.
Under the deals, China Gas will buy 1 million tonnes per annum (MTPA) of LNG on a free on board basis from Plaquemines LNG and another 1 MTPA from the CP2 LNG export facility, both in Louisiana.
Mr. Liu Minghui, Chairman and President of China Gas, said, “As a major participant in China’s energy market, we are committed to providing reliable and low-carbon LNG to Chinese customers. These two SPAs increase additional volume for our LNG portfolio and strengthen China Gas’s supply ability.”
Mike Sabel, Chief Executive Officer of Venture Global LNG said, “Through relentless execution and innovation, our company will continue to bring much needed new capacity to the global LNG market, supporting energy security and environmental progress both in Asia and Europe. Importantly, low-cost LNG supplied to the region will accelerate fuel switching and lower carbon emissions, contributing meaningfully to China and the world’s existing climate targets.”