China Gas Holdings has agreed to purchase 0.5 million metric tons of liquefied natural gas from US-based Venture Global annually for a twenty-year period beginning in 2030, according to an announcement made by both companies on Monday, September 14, 2026. The agreement was disclosed at the Gastech conference in Bangkok. This development marks a significant step toward normalizing energy trade relations between China and the United States following a period of trade tensions.
China halted imports of US LNG in March 2025 after Beijing implemented tariffs on US energy products that took effect in mid-February 2025. The new deal precedes Chinese President Xi Jinping's anticipated visit to Washington later this month. Liu Ming Hui, chairman and president of China Gas, stated that the agreement strengthens the company's portfolio and reinforces its commitment to establishing an international energy trading platform.
The deal expands Venture Global's long-term supply commitments with China Gas to 2.5 million metric tons annually, according to Venture Global's statement. The agreement comes at a time when China's LNG import appetite has weakened considerably. China was formerly a major buyer of US LNG, importing as much as 6.2 billion dollars worth of cargoes in 2021.
However, following the implementation of tariffs by Beijing that raised import costs, Chinese importers have redirected US-sourced cargoes to alternative buyers. China's energy strategy has shifted toward prioritizing piped gas and renewable energy sources, relegating LNG to a diminishing role in its overall fuel mix. Despite suspending a 24 percent additional tariff on US goods for one year, China has retained a 15 percent levy on LNG imports specifically.
This shift in energy priorities is reflected in import data. Total LNG imports fell to a three-year low of 68.43 million metric tons in 2025, demonstrating the broader decline in Chinese demand for the super-chilled fuel and its decreasing importance in the world's largest LNG importer's energy portfolio. Source: Reuters, reported by Emily Chow; writing by Sudarshan Varadhan; editing by Sonali Paul.
Published September 14, 2026.
Source: reuters.com