China was the world's top LNG importer in 2025 with roughly 67 Mt in total volume. While Chinese firms maintained contracts for about 25 Mt per year from the US, they resold most of those cargoes to Europe. Russia is currently filling some of the supply gap, with July exports to China rising 43% to 0.95 Mt. Other players are also locking in future supplies, including ConocoPhillips with a 20 year deal for 1.0 Mt a year starting in 2030 and China Gas with a 0.5 Mt a year agreement signed in September.
Tuesday, October 20, 2026
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Venture Global Negotiates LNG Sales to 3 Chinese Buyers After Cargo Gap
Commodities14 days ago
PetroChina International and at least two other importers are in talks with US exporter Venture Global to secure liquefied natural gas shipments from the company's Louisiana facilities. These negotiations come as the war in Iran and instability in the Strait of Hormuz disrupt global fuel flows, leading Qatar, a top supplier to China, to declare force majeure on some of its capacity. Chinese buyers have not imported a single US LNG cargo since February 2025, when Beijing imposed a 15% tariff on shipments from the US.
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