It signed a 20-year deal with state oil giant Sinopec to supply 4 million tonnes of LNG a year and further agreed to provide 3.8 million tonnes a year to Unipec, a subsidiary of Sinopec.Īlso in 2021, Venture Global signed a 20-year deal to sell 2 million tonnes of LNG a year to a unit of China National Offshore Oil Corp (CNOOC). In 2021, Venture Global also signed several large deals with firms in China, which imported more LNG in that year than any other country. Venture Global has about 70 MTPA of LNG export capacity in operation, construction or development in Louisiana, including the 10-MTPA Calcasieu (operation and construction), 20-MTPA Plaquemines (construction), 20-MTPA Delta (development) and 20-MTPA CP2 (development).

Deliveries are expected to begin in 2026. firm Energy Transfer in June to receive 0.7 million tonnes of LNG a year on a free-on-board basis for 25 years. This would make it harder for Europe to secure enough LNG in the long term, as it will have to compete with Asian players for the supply, which will remain limited until 2027, according to analysts.Ĭhina Gas Holdings signed a deal with U.S. However, the country, home to the world's fastest-growing market for the seaborne fuel, has signed a flurry of long term 20-25 year contracts with global producers, especially in the United States in 2022, with Chinese buyers alone accounting for 40% of such contracts among global players. The terms allowed buyers flexibility to either bring in the fuel to China or trade in the global market.Įurope has been the major beneficiary of China cutting its LNG imports in 2022, as the gas-starved continent has been able to buy both spot cargoes that China didn't take and some contracted cargoes that China re-sold. benchmark Henry Hub gas market, the company executive said. LNG export deals with China, the contracts were agreed on a free-on-board basis and their prices were linked to the U.S. Its Calcasieu Pass plant was producing LNG 29 months after receiving a financial go-ahead. Venture Global, founded by a former energy lawyer and investment banker, has rocketed to the top ranks of LNG developers with its ability to obtain financing and rapidly build plants as rivals struggled. China Gas said it would receive 1 million tonnes of LNG annually from each project. The LNG would come from two Venture Global projects in Louisiana - Plaquemines LNG and the CP2 LNG. Supply would begin in 2027, a company executive told Reuters.

since 2021.Ĭhina Gas Holdings, via its wholly owned subsidiary China Gas Hongda Energy Trading Co, would buy a total of two million tonnes per year of LNG from Venture Global under the two contracts, the company said in a statement. exporter Venture Global, adding to a flurry of deals signed between China and the U.S. US liquefied natural gas (LNG) exporter Venture Global LNG has awarded Australian contractor Worley the engineering, procurement, and construction (EPC) contract for the first phase of Venture Global’s CP2 LNG project in Louisiana. China Gas Holdings 384, one of China's largest independent gas distributors, has agreed to two 20-year liquefied natural gas (LNG) supply contracts with U.S.

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