China Gas and Venture Global Sign 20-Year Long-Term LNG Purchase and Sale Agreement

China Gas Trading BU's subsidiaryChina Gas Hongda Energy Trading Co., Ltd.signed an LNG purchase and sale agreement with Venture Global CP2 LNG, LLC, a subsidiary of Venture Global. Under the agreement, Venture Global will supply China Gas with 500,000 tonnes per annum of LNG on an FOB basis from its global resource pool, for a term of 20 years. Xu Huilin, Vice President of China Gas and Chairman of China Gas Smart Trading (Shenzhen) Co., Ltd., noted that this signing represents 500,000 tonnes of new long-term contracted resources, following the 3 million tonnes of long-term agreement resources secured in 20222023, and will expand the group's long-term LNG agreement resource pool to 3.5 million tonnes per annum. The purchase price under the agreement is linked to the Henry Hub benchmark plus a fixed liquefaction fee. First deliveries under the cooperation are expected to commence as early as 2030.