China Gas and Venture Global Sign Long Term LNG Agreement Ahead of Xi Trump Summit

China Gas has signed an agreement with the United States company Venture Global to purchase 500,000 tons of liquefied natural gas (LNG) annually. The supply is scheduled to begin in 2030 and will last for 20 years. According to Venture Global, this deal increases the company's total long term commitments with China Gas to 2.5 million tons per year. The gas will be supplied from Venture Global's operations in Louisiana.

The agreement comes shortly before a scheduled summit in Washington between Chinese President Xi Jinping and U.S. President Donald Trump on September 24. While the timing coincides with the meeting, official communications from the companies did not mention the summit or government intervention. The deal follows a period of suspended direct LNG imports from the U.S. that began in early 2025 after China imposed retaliatory tariffs on American energy products during a trade war.

Market conditions have been influenced by conflict in Iran and reduced supplies from Qatar, leading to higher LNG prices. While China has increased its focus on renewables and pipeline gas, it is returning to the U.S. market. Some reports indicate that during the trade war, Chinese firms continued to hold long term contracts but redirected shipments to European buyers. Venture Global has become a major supplier to the European Union as Europe seeks alternatives to Russian and Qatari gas.

Center right sources frame the event differently. Some emphasize the diplomatic timing and the potential for energy ties to be a primary topic of the Xi Trump summit. Others frame the move as a strategic shift by Beijing that may drive global energy prices higher by increasing competition for LNG and crude oil.