Venture Global LNG and China Gas Holdings Limited ("China Gas" or the "Group"; stock code: 384), a leading natural gas operator in China, announced that the wholly-owned subsidiary China Gas Hongda Energy Trading Co., LTD ("China Gas Hongda") and Venture Global LNG ("Venture Global"), have signed two 20-year LNG Sales and Purchase Agreements (SPA).
As per agreements, China Gas will purchase LNG on a free on board (FOB) basis from Plaquemines LNG and the CP2 LNG export facility, both in Louisiana, for a combined 1 million tonnes per annum (MTPA).
Mr. Liu Minghui, Chairman and President of China Gas Holdings Co. Ltd., said "As a major participant in China's energy market, we are committed to providing reliable and low-carbon LNG to Chinese customers. These two SPAs increase additional volume for our LNG portfolio and strengthen China Gas's supply ability. We look forward to working with Venture Global over the coming years to help further reduce greenhouse gas emissions."
Mike Sabel, Chief Executive Officer of Venture Global LNG said, "Venture Global is pleased to welcome China Gas as a customer both at Plaquemines and CP2. Through relentless execution and innovation, our company will continue to bring much needed new capacity to the global LNG market, supporting energy security and environmental progress both in Asia and Europe. Importantly, low-cost LNG supplied to the region will accelerate fuel switching and lower carbon emissions, contributing meaningfully to China and the world's existing climate targets."