The US LNG company Venture Global has signed two 20-year LNG supply agreements with the Chinese gas distributor China Gas Holdings totalling 2 Mt/year. Under the deals, China Gas will buy 1 Mt/year of LNG on a free-on-board (FOB) basis from the Plaquemines LNG facility and another 1 Mt/year from the CP2 LNG export facility, both located in the US state of Louisiana. Venture Global’s Plaqumines and CP2 LNG facilities are both under development and are both expected to have a nameplate liquefaction capacity of 20 Mt/year.
Venture Global has signed several agreements with Chinese companies in the previous years. In November 2021, the US group signed two 20-year agreements to supply a combined 5 Mt/year of LNG to Sinopec from the Plaquemines facility. In December 2021, Venture Global signed another 20-year sales and purchase agreement for 2 Mt/year with CNOOC Gas & Power.
The US exported more than 146 bcm (108 Mt) of LNG in 2021.