China Gas signs 20-year LNG SPA with Venture Global, accelerating import diversification

China Gas signed a 20-year LNG SPA with Venture Global for 500,000 t/y, expanding its term resource pool to 3.50 million t/y. China's LNG imports are shifting from Middle East dependence to diversified sources, with Qatar's share plunging from 38.07% to 2.04%, while Australia and Russia gain share.

On September 14, China Gas Hongda Energy Trading, a China Gas subsidiary, signed a 20-year LNG Sales and Purchase Agreement (SPA) with Venture Global. The FOB agreement covers 500,000 t/y from Venture Global's global resource pool, with first deliveries expected by 2030. The deal expands China Gas's term LNG