China Gas Holdings Ltd

Gastech 2026 announced partnerships and investment plans during its first three days worth a combined $40 billion, covering agreements ranging from memoranda of understanding to purchase contracts and investment plans across the energy value chain. China Gas Holdings and Venture Global LNG agreed to buy 0.5 million tonnes per year of LNG from the United States over 20 years, starting in 2030. Samsung Heavy Industries closed a deal to build LNG carriers and crude oil tankers worth $1.2 billion, while the state of Sarawak concluded talks with Indorama Ventures and partners from Japan on downstream natural gas and petrochemical investment worth about $1 billion in Bintulu. In addition, PETRONAS, PTTEP JDA and the Thailand-Malaysia Joint Authority signed a 35-year production sharing contract and a natural gas sales agreement in the Thailand-Malaysia Joint Development Area. GE Vernova and B.Grimm Power signed an agreement to supply gas turbine technology and long-term services in Thailand and Malaysia. Eni signed a memorandum of understanding with the government of Senegal to assess the oil potential of five offshore exploration blocks, and Horacio Marín, chairman and chief executive of YPF, announced plans to sign two to three LNG sales contracts for the Argentina LNG export project. Supawan Teerarat, director of the Thailand Convention and Exhibition Bureau, or TCEB, said the event drew more than 50,000 participants from over 150 countries and is expected to generate about 14.62 billion baht in economic value.

Venture Global announced on September 14 that it signed a sales and purchase agreement with China Gas Holdings for 0.5 million tons per annum of LNG starting in 2030, raising China Gas's total long-term commitments with the American exporter to 2.5 mtpa. The deal adds 0.5 mtpa of contracted volumes for two decades, giving Venture Global greater visibility on revenue and cash flows as it expands its Louisiana portfolio. The agreement lands ahead of Chinese President Xi Jinping's expected visit to Washington later this month; China bought as much as $6.2 billion worth of American LNG shipments in 2021 before halting imports in March 2025 after Beijing's tariffs on American energy products raised costs. Venture Global is building out capacity, with its Plaquemines project expected to complete phase 1 by the fourth quarter of 2026 and phase two by mid-2027, and its CP2 project expected to start production in the second half of 2027. The company noted the new contract does not begin until 2030 and will have little direct effect on near-term earnings and cash flows, while China's total LNG imports fell to a three-year low of 68.43 million tons in 2025 and Beijing has retained a 15% levy on US LNG.