China’s imports of American natural gas will more than double after state-run companies signed three long-term supply deals with Venture Global LNG, as Beijing looks to the US to help secure its energy future.
Oil and gas giant Sinopec has agreed two deals to buy at least 4m tonnes a year of liquefied natural gas from Venture Global’s proposed new export project in Plaquemines Parish, Louisiana, which is due to come online in mid-2023.
Venture Global also revealed details of a third agreement with Unipec, Sinopec’s trading arm, which will involve shipments of 1m tonnes a year from the US group’s Calcasieu LNG plant, which is due to start initial exports later this year.
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