Venture Global Secured New 20-Year China LNG Supply Deal
The new agreement increases long-term energy offtake, affecting supply chain planning for global gas operators.
Updated on Sept. 22, 2026 in Oil and Gas
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Venture Global has signed a 20-year agreement to provide China Gas with 0.5 million metric tons per annum (MMtpa) of LNG beginning in 2030. This deal brings the total long-term offtake commitment between the two companies to 2.5 MMtpa.
Why it matters
The deal secures a significant long-term energy supply route, highlighting the ongoing effort by major suppliers to lock in capacity amid rising global demand. It marks a deepening partnership between the firms following previous multi-year commitments.
The new 0.5 MMtpa agreement brings total offtake between the companies to 2.5 MMtpa. This follows a 13 percent increase in authorized export capacity for the Plaquemines facility, which is now permitted to export 3.85 Bcfd to both FTA and non-FTA countries.
The players
Venture Global
An energy infrastructure company focused on the development and operation of LNG export facilities in the United States.
China Gas
A major Chinese natural gas distributor and operator that manages cross-regional pipeline networks and energy services.
Department of Energy
The federal agency responsible for regulating U.S. energy exports and authorizing natural gas sales to foreign markets.
The details
Venture Global is currently executing commissioning and assurance testing for Phase 1 of its Plaquemines Project. The company is simultaneously advancing its CP2 brownfield expansion through ongoing FERC permitting and DOE non-FTA export authorization filings.
Timeline
February 23, 2023: Companies signed initial two SPAs for 20-year terms.
March 13, 2026: DOE approved 13 percent export increase for Plaquemines.
Q4 2026: Targeted commercial operations for Plaquemines Phase 1.
2027: Expected start of CP2 project production.
2030: New 0.5 MMtpa LNG supply agreement begins.
Market Landscape
The expansion of this supply partnership follows the established regulatory pattern set by DOE non-FTA export authorization processes. It reflects a broader industry trend of securing multi-decade offtake agreements to justify the high capital expenditure of new export terminal infrastructure.
Operators should monitor the project development timelines at the Plaquemines and CP2 sites as indicators of future North American export capacity. Watch for updates on construction milestones and regulatory approvals, which serve as key signals for global market supply liquidity.
The takeaway
Securing multi-decade offtake agreements remains a primary strategy for de-risking large-scale capital investments in the LNG sector. Operators should track the commercial operations start dates for Plaquemines and CP2 as critical indicators of future domestic export availability.
Further reading
For additional context on international energy trade and infrastructure development, see our Oil and Gas coverage.
Source note: This article includes information reported by Rigzone.
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