Venture Global Signed New LNG Supply Agreement
The energy firm secured a 20-year deal to provide China Gas with 0.5 million metric tons of LNG per year.
Updated on Sept. 22, 2026 in Oil and Gas
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Venture Global has finalized a 20-year agreement to supply 0.5 million metric tons per annum (MMtpa) of liquefied natural gas to China Gas. This new commitment increases the total long-term offtake between the two companies to 2.5 MMtpa.
Why it matters
The deal strengthens the global energy portfolio for both companies while aiming to bridge international resources with rising demand. It represents a significant expansion of the existing long-term cooperation between the two entities.
Venture Global has increased total long-term offtake with China Gas to 2.5 MMtpa. The Plaquemines LNG facility is currently authorized to export 3.85 Bcfd, following a 13 percent increase approved by the DOE.
The players
Venture Global
An American energy company headquartered in Arlington, Virginia, that specializes in the development of liquefied natural gas export facilities.
China Gas
A major Chinese natural gas distributor and service provider that operates extensive infrastructure for the distribution of energy products.
The details
Venture Global is currently managing construction and commissioning for its Plaquemines Project Phase 1, while simultaneously pursuing brownfield expansion permits for its CP2 project. The firm previously entered into two separate 20-year supply agreements with China Gas three years ago to cover volume from the Plaquemines and CP2 sites.
Timeline
February 23, 2023: Companies signed initial two 20-year supply agreements.
March 13, 2026: DOE authorized a 13 percent export increase for Plaquemines.
Q4 2026: Targeted commercial operations for Plaquemines Phase 1.
2027: Expected start of production for the CP2 project.
2030: Start date for the new 0.5 MMtpa LNG supply agreement.
Market Landscape
This deal reflects an intensifying competition for long-term gas supplies among global distributors seeking stable energy portfolios. These offtake agreements mirror broader industry efforts to lock in multi-decade capacity as export facilities like Plaquemines scale operations.
This corporate agreement does not immediately impact retail pricing or household energy costs for individual consumers. However, it signals a long-term shift in global LNG supply chains that may influence future energy market stability.
The takeaway
Long-term offtake agreements provide essential financial stability for the development of multi-billion dollar export infrastructure projects. These contracts ensure that as new facilities come online through 2030, demand remains secured against global market fluctuations.
Further reading
For more on international energy trade and infrastructure, see the Oil and Gas section.
Source note: This article includes information reported by Rigzone.
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